Royal Bank of Canada Begins Coverage on MoonLake Immunotherapeutics (NASDAQ:MLTX)

Royal Bank of Canada started coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a report issued on Tuesday, MarketBeat.com reports. The firm issued an outperform rating and a $67.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group lowered their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Finally, Needham & Company LLC upped their price objective on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of “Buy” and a consensus target price of $80.50.

MoonLake Immunotherapeutics Stock Up 1.9 %

MoonLake Immunotherapeutics stock opened at $40.69 on Tuesday. The company’s fifty day simple moving average is $42.75 and its 200-day simple moving average is $48.05. MoonLake Immunotherapeutics has a 12 month low of $36.52 and a 12 month high of $58.26. The stock has a market cap of $2.60 billion, a P/E ratio of -31.54 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.09). On average, equities research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of large investors have recently bought and sold shares of MLTX. Victory Capital Management Inc. lifted its position in MoonLake Immunotherapeutics by 24.7% during the 3rd quarter. Victory Capital Management Inc. now owns 217,839 shares of the company’s stock worth $10,983,000 after acquiring an additional 43,157 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in MoonLake Immunotherapeutics by 4.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,167,358 shares of the company’s stock worth $58,858,000 after acquiring an additional 49,733 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in MoonLake Immunotherapeutics by 3.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 118,126 shares of the company’s stock worth $5,956,000 after acquiring an additional 3,892 shares during the last quarter. FMR LLC lifted 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 acquiring an additional 1,306,215 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in MoonLake Immunotherapeutics by 96.4% during 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 last quarter. 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.