MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a report published on Monday morning, Benzinga reports. Cantor Fitzgerald also issued estimates for MoonLake Immunotherapeutics’ FY2024 earnings at ($1.37) EPS.

A number of other research analysts have also recently commented on MLTX. Needham & Company LLC reiterated a buy rating and set a $62.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Oppenheimer assumed coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They issued an outperform rating and a $104.00 target price on the stock. Wolfe Research lowered shares of MoonLake Immunotherapeutics from an outperform rating to a peer perform rating in a research report on Monday, August 26th. Finally, HC Wainwright reiterated a buy rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics has an average rating of Moderate Buy and a consensus price target of $80.45.

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX opened at $51.37 on Monday. MoonLake Immunotherapeutics has a 52-week low of $35.11 and a 52-week high of $64.98. The company has a fifty day moving average of $47.26 and a 200-day moving average of $44.94. The company has a market capitalization of $3.28 billion, a P/E ratio of -68.49 and a beta of 1.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same period in the previous year, the company earned ($0.23) earnings per share. As a group, analysts forecast that MoonLake Immunotherapeutics will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of MLTX. Quarry LP increased its stake in shares of MoonLake Immunotherapeutics by 172.7% during the second quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $132,000 after buying an additional 1,900 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in MoonLake Immunotherapeutics by 37.9% in the second quarter. The Manufacturers Life Insurance Company now owns 114,234 shares of the company’s stock valued at $5,023,000 after acquiring an additional 31,401 shares in the last quarter. Millennium Management LLC increased its position in MoonLake Immunotherapeutics by 596.0% during the 2nd quarter. Millennium Management LLC now owns 216,964 shares of the company’s stock valued at $9,540,000 after purchasing an additional 185,789 shares during the period. Marshall Wace LLP raised its holdings in MoonLake Immunotherapeutics by 115.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock worth $48,307,000 after purchasing an additional 587,684 shares in the last quarter. Finally, Logos Global Management LP purchased a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter worth about $32,978,000. Hedge funds and other 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.