MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Up 6.3% – Should You Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price rose 6.3% during trading on Tuesday . The company traded as high as $46.23 and last traded at $46.57. Approximately 105,743 shares traded hands during trading, a decline of 78% from the average daily volume of 484,983 shares. The stock had previously closed at $43.81.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MLTX. 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. HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Friday, January 10th. The Goldman Sachs Group upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $82.00 in a research note on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of “Buy” and an average target price of $84.29.

MoonLake Immunotherapeutics Stock Up 5.0 %

The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -35.69 and a beta of 1.31. The company’s fifty day simple moving average is $51.43 and its 200 day simple moving average is $49.06.

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

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently modified their holdings of MLTX. FMR LLC raised its stake in MoonLake Immunotherapeutics by 35.8% in the 3rd quarter. FMR LLC now owns 4,950,224 shares of the company’s stock worth $249,590,000 after purchasing an additional 1,306,215 shares in the last quarter. Logos Global Management LP acquired a new stake in shares of MoonLake Immunotherapeutics in the second quarter valued at approximately $32,978,000. Marshall Wace LLP raised its position in shares of MoonLake Immunotherapeutics by 115.0% in the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after buying an additional 587,684 shares in the last quarter. Avoro Capital Advisors LLC boosted its stake in shares of MoonLake Immunotherapeutics by 7.4% in the second quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock valued at $121,797,000 after buying an additional 190,000 shares during the period. Finally, Millennium Management LLC grew its position in MoonLake Immunotherapeutics by 596.0% during the second quarter. Millennium Management LLC now owns 216,964 shares of the company’s stock worth $9,540,000 after buying an additional 185,789 shares in the last quarter. 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.