Brokerages Set MoonLake Immunotherapeutics (NASDAQ:MLTX) PT at $78.71

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) has been given an average recommendation of "Buy" by the eight analysts that are currently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $78.71.

A number of research firms recently commented on MLTX. Wolfe Research raised shares of MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price target on the stock in a research report on Monday, May 19th. The Goldman Sachs Group reduced their price target on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Wedbush restated an "outperform" rating and set a $80.00 price objective (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Finally, Needham & Company LLC reissued a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MLTX. PNC Financial Services Group Inc. increased its position in MoonLake Immunotherapeutics by 3.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company's stock worth $460,000 after purchasing an additional 320 shares in the last quarter. 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 worth $49,000 after buying an additional 338 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of MoonLake Immunotherapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 58,950 shares of the company's stock valued at $3,192,000 after acquiring an additional 540 shares during the last quarter. MPM Bioimpact LLC boosted its holdings in shares of MoonLake Immunotherapeutics by 0.3% during the 1st quarter. MPM Bioimpact LLC now owns 316,049 shares of the company's stock valued at $12,348,000 after acquiring an additional 819 shares in the last quarter. Finally, DnB Asset Management AS grew its position in MoonLake Immunotherapeutics by 11.3% during the 4th quarter. DnB Asset Management AS now owns 8,356 shares of the company's stock worth $452,000 after acquiring an additional 847 shares during the last quarter. Institutional investors own 93.85% of the company's stock.

MoonLake Immunotherapeutics Price Performance

MoonLake Immunotherapeutics stock traded down $1.90 during trading hours on Wednesday, hitting $44.17. The company had a trading volume of 478,375 shares, compared to its average volume of 380,931. MoonLake Immunotherapeutics has a one year low of $31.42 and a one year high of $58.26. The firm has a market cap of $2.83 billion, a PE ratio of -34.24 and a beta of 1.23. The firm has a 50-day moving average of $39.48 and a 200 day moving average of $43.78.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.13. During the same period last year, the firm earned ($0.22) EPS. As a group, research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

MoonLake Immunotherapeutics Company Profile

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.