MoonLake Immunotherapeutics (NASDAQ:MLTX) Cut to Underperform at Wolfe Research

Key Points

• MoonLake Immunotherapeutics has been downgraded by Wolfe Research from an "outperform" to an "underperform" rating, with a price target indicating a potential 67.95% downside from its current price.
• Other analysts have also revised their ratings on MLTX, with BTIG Research dropping their rating to "neutral" and a target price of $85, while Stifel Nicolaus set a $13 target after downgrading to "hold."
• The stock has seen significant volatility, with a 12-month high of $62.75 and currently opens at around $6.24, highlighting the uncertainty in investor sentiment towards its performance.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) was downgraded by equities researchers at Wolfe Research from an "outperform" rating to an "underperform" rating in a report released on Tuesday, MarketBeat.com reports.

A number of other equities analysts have also issued reports on MLTX. Citigroup lowered shares of MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating in a research report on Tuesday. Wedbush dropped their price target on MoonLake Immunotherapeutics from $80.00 to $18.00 and set an "outperform" rating on the stock in a research report on Tuesday. BTIG Research downgraded MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating and set a $85.00 price objective for the company. in a research note on Monday. Stifel Nicolaus lowered MoonLake Immunotherapeutics from a "buy" rating to a "hold" rating and set a $13.00 price objective on the stock. in a report on Monday. Finally, Jefferies Financial Group downgraded shares of MoonLake Immunotherapeutics from a "buy" rating to a "hold" rating and set a $8.00 price target for the company. in a research report on Monday. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $43.82.

MoonLake Immunotherapeutics Stock Up 14.9%

Shares of NASDAQ MLTX opened at $7.17 on Tuesday. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The stock has a market cap of $460.53 million, a P/E ratio of -2.58 and a beta of 1.27. The company has a current ratio of 16.65, a quick ratio of 16.65 and a debt-to-equity ratio of 0.21. The business's fifty day simple moving average is $52.80 and its 200-day simple moving average is $45.74.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same period last year, the business earned ($0.39) earnings per share. As a group, equities analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MLTX. Deutsche Bank AG lifted its position in MoonLake Immunotherapeutics by 59.8% during the 4th quarter. Deutsche Bank AG now owns 903 shares of the company's stock worth $49,000 after acquiring an additional 338 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of MoonLake Immunotherapeutics in the second quarter worth about $74,000. US Bancorp DE grew its position in shares of MoonLake Immunotherapeutics by 114.4% during the first quarter. US Bancorp DE now owns 2,208 shares of the company's stock worth $86,000 after buying an additional 1,178 shares in the last quarter. Quarry LP acquired a new stake in shares of MoonLake Immunotherapeutics in the 1st quarter valued at about $94,000. Finally, Advisors Asset Management Inc. grew its stake in MoonLake Immunotherapeutics by 81.7% in the first quarter. Advisors Asset Management Inc. now owns 4,009 shares of the company's stock worth $157,000 after purchasing an additional 1,803 shares in the last quarter. 93.85% of the stock is 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.