MoonLake Immunotherapeutics (NASDAQ:MLTX) Sees Strong Trading Volume – Should You Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX) saw unusually-strong trading volume on Monday . Approximately 463,252 shares traded hands during trading, an increase of 60% from the previous session’s volume of 290,290 shares.The stock last traded at $52.10 and had previously closed at $53.45.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wedbush restated an “outperform” rating and issued a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $62.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.43.

MoonLake Immunotherapeutics Trading Down 4.1 %

The firm’s fifty day simple moving average is $52.12 and its two-hundred day simple moving average is $48.80. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of -37.34 and a beta of 1.31.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MLTX. Barclays PLC lifted its stake in MoonLake Immunotherapeutics by 1,269.2% during the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after purchasing an additional 5,229 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of MoonLake Immunotherapeutics by 55.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,325 shares of the company’s stock valued at $1,025,000 after buying an additional 7,247 shares during the period. State Street Corp lifted its stake in MoonLake Immunotherapeutics by 96.2% during the 3rd quarter. State Street Corp now owns 87,637 shares of the company’s stock worth $4,419,000 after acquiring an additional 42,980 shares in the last quarter. Parkman Healthcare Partners LLC boosted its holdings in MoonLake Immunotherapeutics by 1.6% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 102,813 shares of the company’s stock valued at $5,184,000 after acquiring an additional 1,589 shares during the period. Finally, HighVista Strategies LLC boosted its holdings in MoonLake Immunotherapeutics by 3.1% during the 3rd quarter. HighVista Strategies LLC now owns 43,541 shares of the company’s stock valued at $2,195,000 after acquiring an additional 1,292 shares during the period. Institutional investors and hedge funds 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.