MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Up 2.9% – Still a Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX) was up 2.9% during mid-day trading on Tuesday . The stock traded as high as $39.99 and last traded at $39.79. Approximately 16,317 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 335,065 shares. The stock had previously closed at $38.67.

Analyst Ratings Changes

Several research analysts have recently issued reports on MLTX shares. Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday. They issued an “outperform” rating and a $67.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. The Goldman Sachs Group cut their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC increased their price target on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $80.50.

MoonLake Immunotherapeutics Stock Performance

The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -31.19 and a beta of 1.31. The firm’s fifty day simple moving average is $43.28 and its 200 day simple moving average is $48.21.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced 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). Analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently made changes to their positions in the business. FMR LLC grew its stake 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 worth $343,386,000 after acquiring an additional 1,391,167 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of MoonLake Immunotherapeutics by 12.2% during 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 acquiring an additional 363,394 shares in the last quarter. Paradigm Biocapital Advisors LP grew its stake in shares of MoonLake Immunotherapeutics by 90.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock worth $95,965,000 after acquiring an additional 840,731 shares in the last quarter. Federated Hermes Inc. grew its stake 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 acquiring an additional 149,724 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of MoonLake Immunotherapeutics by 7.9% during the 4th quarter. Marshall Wace LLP now owns 1,245,299 shares of the company’s stock worth $67,433,000 after acquiring an additional 90,914 shares in the last quarter. 93.85% of the stock is owned by 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.