MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report released on Friday morning,Benzinga reports. HC Wainwright currently has a $100.00 target price on the stock.

Several other brokerages also recently commented on MLTX. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Needham & Company LLC restated a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.43.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $46.31 on Friday. The company has a market cap of $2.96 billion, a price-to-earnings ratio of -35.90 and a beta of 1.31. MoonLake Immunotherapeutics has a fifty-two week low of $37.55 and a fifty-two week high of $64.98. The stock has a fifty day moving average price of $52.18 and a 200-day moving average price of $48.80.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same period last year, the company earned ($0.18) EPS. Research analysts predict that MoonLake Immunotherapeutics will post -1.75 EPS for the current fiscal year.

Institutional Trading of MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in MoonLake Immunotherapeutics by 35.8% during the 3rd quarter. FMR LLC now owns 4,950,224 shares of the company’s stock worth $249,590,000 after buying an additional 1,306,215 shares during the period. Avoro Capital Advisors LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 7.4% during the second quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock worth $121,797,000 after purchasing an additional 190,000 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of MoonLake Immunotherapeutics by 4.4% in the third quarter. Westfield Capital Management Co. LP now owns 1,167,358 shares of the company’s stock worth $58,858,000 after purchasing an additional 49,733 shares during the last quarter. Federated Hermes Inc. increased its holdings in MoonLake Immunotherapeutics by 2.6% in the second quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock valued at $49,617,000 after purchasing an additional 28,672 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of MoonLake Immunotherapeutics by 115.0% in the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after buying an additional 587,684 shares during the period. 93.85% of the stock is currently owned by institutional investors.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It develops Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was incorporated in 2020 and is headquartered in Zug, Switzerland.