MoonLake Immunotherapeutics (NASDAQ:MLTX) Issues Earnings Results, Misses Expectations 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) posted its quarterly earnings data on Tuesday. The company reported ($0.87) EPS for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.14), Zacks reports. During the same period in the previous year, the firm posted ($0.39) earnings per share.

MoonLake Immunotherapeutics Trading Up 0.1%

Shares of NASDAQ MLTX traded up $0.05 during mid-day trading on Tuesday, hitting $53.37. 281,052 shares of the company traded hands, compared to its average volume of 484,996. MoonLake Immunotherapeutics has a 1 year low of $31.42 and a 1 year high of $58.26. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of -23.20 and a beta of 1.27. The company has a quick ratio of 21.11, a current ratio of 21.11 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average of $47.75 and a two-hundred day moving average of $42.92.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MLTX shares. Rothschild & Co Redburn assumed coverage on MoonLake Immunotherapeutics in a report on Monday, July 28th. They issued a "neutral" rating and a $65.00 price target for the company. Wedbush reiterated an "outperform" rating and set a $80.00 price target (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Redburn Atlantic upgraded MoonLake Immunotherapeutics to a "hold" rating in a research report on Monday, July 28th. Wolfe Research upgraded MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price target for the company in a research report on Monday, May 19th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $67.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $73.14.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

An institutional investor recently raised its position in MoonLake Immunotherapeutics stock. Millennium Management LLC grew its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 3,343.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 344,320 shares of the company's stock after purchasing an additional 334,320 shares during the period. Millennium Management LLC owned about 0.54% of MoonLake Immunotherapeutics worth $13,453,000 as of its most recent SEC filing. Institutional investors and hedge funds own 93.85% of the company's stock.

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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