MoonLake Immunotherapeutics (NASDAQ:MLTX) Releases Earnings Results, Misses Estimates By $0.14 EPS

Key Points

• MoonLake Immunotherapeutics reported a quarterly earnings per share (EPS) of ($0.87), missing analysts' estimates of ($0.73) by $0.14.
• The company's stock has a market capitalization of $3.42 billion and a 1-year high of $58.26, reflecting significant investor interest despite the earnings miss.
• Recent analyst ratings show a mix of sentiments, with a consensus price target of $73.14 and seven analysts assigning a buy rating on the stock.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.14), Zacks reports. During the same quarter in the previous year, the company earned ($0.39) earnings per share.

MoonLake Immunotherapeutics Trading Up 1.0%

Shares of MoonLake Immunotherapeutics stock traded up $0.51 on Friday, reaching $52.40. 274,326 shares of the company were exchanged, compared to its average volume of 518,204. The stock has a fifty day moving average price of $48.87 and a 200-day moving average price of $43.14. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -18.85 and a beta of 1.27. The company has a current ratio of 16.65, a quick ratio of 21.11 and a debt-to-equity ratio of 0.21. MoonLake Immunotherapeutics has a fifty-two week low of $31.42 and a fifty-two week high of $58.26.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MLTX shares. Rothschild & Co Redburn started coverage on MoonLake Immunotherapeutics in a research note on Monday, July 28th. They set a "neutral" rating and a $65.00 target price on the stock. The Goldman Sachs Group boosted their price objective on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the stock a "buy" rating in a research note on Wednesday. Redburn Atlantic raised MoonLake Immunotherapeutics to a "hold" rating in a research note on Monday, July 28th. Wolfe Research raised MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price objective on the stock in a research note on Monday, May 19th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, MoonLake Immunotherapeutics has an average rating of "Moderate Buy" and a consensus price target of $74.43.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

An institutional investor recently raised its position in MoonLake Immunotherapeutics stock. Millennium Management LLC increased its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 3,343.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 344,320 shares of the company's stock after buying an additional 334,320 shares during the quarter. Millennium Management LLC owned 0.54% of MoonLake Immunotherapeutics worth $13,453,000 as of its most recent filing with the Securities and Exchange Commission. 93.85% of the stock is currently owned by hedge funds and other 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.