Investors Purchase Large Volume of Call Options on MoonLake Immunotherapeutics (NASDAQ:MLTX)

Key Points

• MoonLake Immunotherapeutics (NASDAQ:MLTX) experienced a significant surge in call options trading, with 18,262 call options purchased, marking an 869% increase from the average volume.
• Wall Street analysts have mixed ratings for the stock, with a consensus target price of $62.44, reflecting both upgrades and downgrades by various firms.
• The stock has fallen 89.4% recently, trading at $6.60, while the company has a market cap of $423.66 million and a history of posting negative earnings.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) saw unusually large options trading activity on Monday. Stock traders purchased 18,262 call options on the company. This represents an increase of approximately 869% compared to the typical volume of 1,884 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Redburn Atlantic upgraded shares of MoonLake Immunotherapeutics to a "hold" rating in a research report on Monday, July 28th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $10.00 target price (down previously from $67.00) on shares of MoonLake Immunotherapeutics in a research report on Monday. BTIG Research lowered shares of MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating and set a $85.00 price target on the stock. in a research note on Monday. Stifel Nicolaus lowered shares of MoonLake Immunotherapeutics from a "buy" rating to a "hold" rating and set a $13.00 price target on the stock. in a research note on Monday. Finally, Rothschild & Co Redburn initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Monday, July 28th. They set a "neutral" rating and a $65.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $62.44.

MoonLake Immunotherapeutics Stock Down 89.4%

Shares of MLTX traded down $55.39 during mid-day trading on Monday, hitting $6.60. 43,707,656 shares of the company's stock were exchanged, compared to its average volume of 740,170. The firm has a fifty day moving average of $54.68 and a two-hundred day moving average of $46.24. MoonLake Immunotherapeutics has a twelve month low of $6.53 and a twelve month high of $62.75. The stock has a market cap of $423.66 million, a price-to-earnings ratio of -2.40 and a beta of 1.27. The company has a quick ratio of 16.65, a current ratio of 16.65 and a debt-to-equity ratio of 0.21.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.14). During the same quarter last year, the business posted ($0.39) EPS. On average, sell-side analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zimmer Partners LP acquired a new position in MoonLake Immunotherapeutics in the 1st quarter valued at $957,000. Caxton Associates LLP acquired a new position in MoonLake Immunotherapeutics in the 1st quarter valued at $347,000. Octagon Capital Advisors LP acquired a new position in MoonLake Immunotherapeutics in the 1st quarter valued at $11,565,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in MoonLake Immunotherapeutics by 17.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,236 shares of the company's stock valued at $2,287,000 after buying an additional 6,422 shares during the last quarter. Finally, Granahan Investment Management LLC grew its stake in MoonLake Immunotherapeutics by 4.2% in the 1st quarter. Granahan Investment Management LLC now owns 142,220 shares of the company's stock valued at $5,557,000 after buying an additional 5,782 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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