MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Up 4.1% – Should You Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX) shares rose 4.1% during mid-day trading on Monday . The company traded as high as $40.38 and last traded at $39.92. Approximately 195,255 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 344,036 shares. The stock had previously closed at $38.33.

Analysts Set New Price Targets

A number of brokerages have issued reports on MLTX. HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Needham & Company LLC raised their price target on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. The Goldman Sachs Group lowered their price target on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Royal Bank of Canada started coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They set an “outperform” rating and a $67.00 price target on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $80.50.

MoonLake Immunotherapeutics Price Performance

The firm has a 50 day moving average of $39.05 and a 200-day moving average of $45.95. The stock has a market capitalization of $2.56 billion, a P/E ratio of -31.01 and a beta of 1.32.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). As a group, equities analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently made changes to their positions in MLTX. FMR LLC boosted its position in shares of MoonLake Immunotherapeutics by 28.1% during the 4th quarter. FMR LLC now owns 6,341,391 shares of the company’s stock valued at $343,386,000 after acquiring an additional 1,391,167 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its holdings in MoonLake Immunotherapeutics by 90.3% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock valued at $95,965,000 after purchasing an additional 840,731 shares in the last quarter. Polar Capital Holdings Plc grew its stake in shares of MoonLake Immunotherapeutics by 120.0% in the 4th quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company’s stock valued at $59,565,000 after purchasing an additional 600,000 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of MoonLake Immunotherapeutics by 12.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock worth $181,059,000 after buying an additional 363,394 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of MoonLake Immunotherapeutics by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company’s stock worth $69,315,000 after buying an additional 149,724 shares during the period. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.