Brokerages Set MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target at $76.57

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $79.00.

Several equities analysts have issued reports on the stock. Oppenheimer initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 25th. They set an “outperform” rating and a $104.00 target price on the stock. The Goldman Sachs Group began coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, June 10th. HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday. Finally, Wedbush reiterated an “outperform” rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th.

MoonLake Immunotherapeutics Trading Down 3.9 %

NASDAQ:MLTX opened at $40.15 on Wednesday. The company’s 50 day moving average price is $41.35 and its 200-day moving average price is $49.09. MoonLake Immunotherapeutics has a 52 week low of $35.11 and a 52 week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Sunday, May 12th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). Sell-side analysts expect that MoonLake Immunotherapeutics will post -1.21 EPS for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Hedge funds have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. increased its holdings in shares of MoonLake Immunotherapeutics by 42.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,952,703 shares of the company’s stock worth $111,304,000 after buying an additional 580,375 shares during the last quarter. Avoro Capital Advisors LLC increased its stake in MoonLake Immunotherapeutics by 29.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock worth $155,806,000 after acquiring an additional 580,001 shares during the last quarter. Finepoint Capital LP raised its position in MoonLake Immunotherapeutics by 170.1% during the fourth quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock valued at $54,049,000 after purchasing an additional 563,584 shares during the period. TimesSquare Capital Management LLC lifted its stake in shares of MoonLake Immunotherapeutics by 1,270.7% in the 3rd quarter. TimesSquare Capital Management LLC now owns 411,215 shares of the company’s stock valued at $23,439,000 after purchasing an additional 381,215 shares during the last quarter. Finally, Avidity Partners Management LP boosted its holdings in shares of MoonLake Immunotherapeutics by 94.3% in the 3rd quarter. Avidity Partners Management LP now owns 777,172 shares of the company’s stock worth $44,299,000 after purchasing an additional 377,172 shares during the period. Hedge funds and other institutional investors 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.