MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Up 6.3% – Time to Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX) was up 6.3% on Tuesday . The company traded as high as $46.23 and last traded at $46.57. Approximately 105,743 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 484,983 shares. The stock had previously closed at $43.81.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. The Goldman Sachs Group upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $82.00 in a research note on Friday, January 17th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Friday, January 10th. Finally, Wedbush reiterated an “outperform” rating and set a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $84.29.

MoonLake Immunotherapeutics Stock Performance

The business’s 50 day simple moving average is $51.23 and its 200-day simple moving average is $49.08. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of -36.34 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period last year, the company earned ($0.18) earnings per share. As a group, sell-side analysts expect that MoonLake Immunotherapeutics will post -1.75 EPS for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of MoonLake Immunotherapeutics by 96.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,814 shares of the company’s stock worth $1,806,000 after acquiring an additional 17,580 shares during the period. Erste Asset Management GmbH bought a new position in MoonLake Immunotherapeutics during the 3rd quarter valued at $741,000. State Street Corp increased its position in shares of MoonLake Immunotherapeutics by 96.2% during the 3rd quarter. State Street Corp now owns 87,637 shares of the company’s stock valued at $4,419,000 after purchasing an additional 42,980 shares during the period. Barclays PLC raised its stake in shares of MoonLake Immunotherapeutics by 1,269.2% in the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after buying an additional 5,229 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of MoonLake Immunotherapeutics by 100.2% in the third quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company’s stock valued at $3,906,000 after buying an additional 38,779 shares during the period. Institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Company Profile

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.