MoonLake Immunotherapeutics (NASDAQ:MLTX) Cut to Hold at Jefferies Financial Group

Key Points

• Jefferies Financial Group downgraded MoonLake Immunotherapeutics from a "buy" to a "hold" rating, setting a price target of $8.00, which suggests a potential upside of 28.80% from the current price.
• Multiple research firms have issued varying ratings and price targets for MoonLake Immunotherapeutics, with a consensus rating of "Hold" and an average price target of $57.00.
• MoonLake's stock saw significant trading volume, hitting a low of $6.21 and experiencing a 12-month high of $62.75, reflecting volatility in its market performance.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) was downgraded by investment analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a report issued on Monday,Briefing.com Automated Import reports. They presently have a $8.00 price target on the stock. Jefferies Financial Group's target price would indicate a potential upside of 28.80% from the company's current price.

A number of other research firms have also weighed in on MLTX. Rothschild & Co Redburn started coverage on MoonLake Immunotherapeutics in a research note on Monday, July 28th. They issued a "neutral" rating and a $65.00 target price for the company. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $10.00 target price (down from $67.00) on shares of MoonLake Immunotherapeutics in a research note on Monday. BTIG Research lowered shares of MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating and set a $85.00 price target for the company. in a report on Monday. Redburn Atlantic upgraded shares of MoonLake Immunotherapeutics to a "hold" rating in a report on Monday, July 28th. Finally, The Goldman Sachs Group raised their price target on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $57.00.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX stock traded down $55.78 during trading hours on Monday, hitting $6.21. 64,149,867 shares of the company's stock were exchanged, compared to its average volume of 838,490. MoonLake Immunotherapeutics has a 12-month low of $6.17 and a 12-month high of $62.75. The company has a market capitalization of $398.93 million, a PE ratio of -2.22 and a beta of 1.27. The business's 50 day simple moving average is $54.68 and its 200-day simple moving average is $46.24. The company has a current ratio of 16.65, a quick ratio of 16.65 and a debt-to-equity ratio of 0.21.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same quarter in the prior year, the company earned ($0.39) EPS. On average, equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLTX. Deutsche Bank AG increased its holdings in shares of MoonLake Immunotherapeutics by 59.8% during the fourth quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after acquiring an additional 338 shares in the last quarter. Geode Capital Management LLC increased its stake in MoonLake Immunotherapeutics by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company's stock valued at $2,809,000 after purchasing an additional 559 shares in the last quarter. Squarepoint Ops LLC raised its holdings in MoonLake Immunotherapeutics by 3.7% in the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company's stock worth $829,000 after buying an additional 629 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of MoonLake Immunotherapeutics by 8.2% in the first quarter. PNC Financial Services Group Inc. now owns 9,200 shares of the company's stock worth $359,000 after buying an additional 700 shares in the last quarter. Finally, MPM Bioimpact LLC grew its holdings in shares of MoonLake Immunotherapeutics by 0.3% during the first quarter. MPM Bioimpact LLC now owns 316,049 shares of the company's stock valued at $12,348,000 after buying an additional 819 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.

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