MoonLake Immunotherapeutics (NASDAQ:MLTX) Hits New 52-Week High - Time to Buy?

Key Points

• MoonLake Immunotherapeutics reached a new 52-week high of $58.67, closing last at $57.90, with significant trading volume of 296,101 shares.
• Several analysts have given the stock an "outperform" rating, with price targets ranging from $61.00 to $80.00, leading to a consensus target price of $74.43.
• Institutional investors own 93.85% of the company's stock, with notable increases in holdings from major firms like Deutsche Bank AG and U.S. Bancorp.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $58.67 and last traded at $57.90, with a volume of 296101 shares. The stock had previously closed at $55.75.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MLTX shares. Royal Bank Of Canada restated an "outperform" rating and set a $67.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 3rd. The Goldman Sachs Group boosted their target price on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Needham & Company LLC restated a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Wedbush reaffirmed an "outperform" rating and issued a $80.00 price target (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Finally, Wolfe Research raised shares of MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price objective on the stock in a research report on Monday, May 19th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $74.43.

MoonLake Immunotherapeutics Trading Down 0.5%

The stock's fifty day moving average price is $52.89 and its 200 day moving average price is $44.64. The stock has a market cap of $3.82 billion, a P/E ratio of -21.38 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.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings data 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 period last year, the company earned ($0.39) EPS. Equities research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC increased its holdings in shares of MoonLake Immunotherapeutics by 3.7% during the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company's stock valued at $829,000 after acquiring an additional 629 shares in the last quarter. Hudson Bay Capital Management LP boosted its stake in MoonLake Immunotherapeutics by 31.3% in the 2nd quarter. Hudson Bay Capital Management LP now owns 105,000 shares of the company's stock worth $4,956,000 after purchasing an additional 25,000 shares in the last quarter. Vestal Point Capital LP grew its position in MoonLake Immunotherapeutics by 175.0% during the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company's stock valued at $25,960,000 after purchasing an additional 350,000 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in MoonLake Immunotherapeutics by 436.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 423,170 shares of the company's stock valued at $19,974,000 after purchasing an additional 344,335 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in MoonLake Immunotherapeutics by 13.1% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,752 shares of the company's stock valued at $743,000 after purchasing an additional 1,819 shares in the last quarter. 93.85% of the stock is owned by institutional investors.

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.