MoonLake Immunotherapeutics (NASDAQ:MLTX) Reaches New 52-Week Low – Should You Sell?

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $36.34 and last traded at $36.35, with a volume of 503163 shares changing hands. The stock had previously closed at $39.07.

Analysts Set New Price Targets

A number of brokerages have weighed in on MLTX. Needham & Company LLC increased their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a research 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 research note on Thursday, February 27th. The Goldman Sachs Group lowered their target price 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. Finally, Royal Bank of Canada began coverage on MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 price target for the company. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, MoonLake Immunotherapeutics has an average rating of “Buy” and an average price target of $80.50.

MoonLake Immunotherapeutics Stock Performance

The stock has a market capitalization of $2.33 billion, a PE ratio of -28.18 and a beta of 1.31. The business’s 50-day moving average price is $42.08 and its 200 day moving average price is $47.70.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its 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). As a group, equities research analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG increased its holdings in shares of MoonLake Immunotherapeutics by 59.8% in the 4th quarter. Deutsche Bank AG now owns 903 shares of the company’s stock worth $49,000 after buying an additional 338 shares during the last quarter. Birchview Capital LP purchased a new position in MoonLake Immunotherapeutics in the fourth quarter worth $217,000. KLP Kapitalforvaltning AS purchased a new position in MoonLake Immunotherapeutics in the fourth quarter worth $244,000. PEAK6 LLC bought a new position in MoonLake Immunotherapeutics in the fourth quarter valued at $271,000. Finally, Mariner LLC bought a new stake in MoonLake Immunotherapeutics during the fourth quarter worth about $272,000. 93.85% of the stock is owned by hedge funds and other 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.