Wolfe Research Lowers MoonLake Immunotherapeutics (NASDAQ:MLTX) to Peer Perform

Wolfe Research downgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) from an outperform rating to a peer perform rating in a report issued on Monday morning, Marketbeat.com reports.

A number of other equities research analysts also recently commented on MLTX. HC Wainwright reaffirmed a buy rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday, July 1st. 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 price objective for the company. Finally, Needham & Company LLC reduced their target price on shares of MoonLake Immunotherapeutics from $66.00 to $62.00 and set a buy rating for the company in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of Moderate Buy and an average price target of $78.67.

MoonLake Immunotherapeutics Stock Down 0.2 %

MLTX stock opened at $46.81 on Monday. The stock has a market capitalization of $2.99 billion, a PE ratio of -62.41 and a beta of 1.25. MoonLake Immunotherapeutics has a 52 week low of $35.11 and a 52 week high of $64.98. The firm has a 50 day moving average of $44.57 and a 200 day moving average of $45.51.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same quarter in the previous year, the firm earned ($0.23) EPS. On average, equities research analysts expect that MoonLake Immunotherapeutics will post -1.21 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MLTX. Perceptive Advisors LLC acquired a new position in MoonLake Immunotherapeutics during the fourth quarter worth $4,976,000. Avoro Capital Advisors LLC lifted its stake in MoonLake Immunotherapeutics by 29.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock valued at $155,806,000 after buying an additional 580,001 shares in the last quarter. SG Americas Securities LLC purchased a new position in MoonLake Immunotherapeutics in the 1st quarter valued at about $726,000. Westfield Capital Management Co. LP boosted its holdings in MoonLake Immunotherapeutics by 48.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock worth $45,753,000 after buying an additional 298,823 shares during the last quarter. Finally, Finepoint Capital LP raised its holdings in shares of 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 acquiring an additional 563,584 shares during the last quarter. 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.