MoonLake Immunotherapeutics (NASDAQ:MLTX) Hits New 12-Month Low After Analyst Downgrade

Key Points

• MoonLake Immunotherapeutics (NASDAQ:MLTX) reached a 52-week low of $5.95 after an analyst downgrade from Jefferies Financial Group, which set a new price target of $8.00.
• Several analysts have recently reduced their price targets for the stock, with Royal Bank of Canada now estimating a target of $10.00, down from $67.00.
• The company's stock has declined by 89.9% from its previous high of $61.99, highlighting significant market volatility.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s stock price hit a new 52-week low during trading on Monday after Jefferies Financial Group downgraded the stock from a buy rating to a hold rating. Jefferies Financial Group now has a $8.00 price target on the stock. MoonLake Immunotherapeutics traded as low as $5.95 and last traded at $6.24, with a volume of 79166804 shares changing hands. The stock had previously closed at $61.99.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada reissued a "sector perform" rating and set a $10.00 target price (down previously from $67.00) on shares of MoonLake Immunotherapeutics in a research report on Monday. Redburn Atlantic raised shares of MoonLake Immunotherapeutics to a "hold" rating in a research report on Monday, July 28th. The Goldman Sachs Group increased their target price on shares of MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Stifel Nicolaus cut shares of MoonLake Immunotherapeutics from a "buy" rating to a "hold" rating and set a $13.00 target price for the company. in a research report on Monday. Finally, BTIG Research cut shares of MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating and set a $85.00 target price for the company. in a research report on Monday. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $57.00.

Institutional Trading of MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zimmer Partners LP acquired a new stake in shares of MoonLake Immunotherapeutics in the first quarter valued at about $957,000. Caxton Associates LLP acquired a new stake in shares of MoonLake Immunotherapeutics in the first quarter valued at about $347,000. Octagon Capital Advisors LP purchased a new position in shares of MoonLake Immunotherapeutics in the first quarter worth about $11,565,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of MoonLake Immunotherapeutics by 17.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,236 shares of the company's stock worth $2,287,000 after buying an additional 6,422 shares in the last quarter. Finally, Granahan Investment Management LLC lifted its stake in shares of MoonLake Immunotherapeutics by 4.2% in the first quarter. Granahan Investment Management LLC now owns 142,220 shares of the company's stock worth $5,557,000 after buying an additional 5,782 shares in the last quarter. Institutional investors and hedge funds own 93.85% of the company's stock.

MoonLake Immunotherapeutics Trading Down 89.9%

The company has a debt-to-equity ratio of 0.21, a quick ratio of 16.65 and a current ratio of 16.65. The business's 50 day simple moving average is $53.73 and its 200 day simple moving average is $46.01.

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

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