MoonLake Immunotherapeutics (NASDAQ:MLTX) Rating Increased to Hold at Redburn Atlantic

Key Points

• MoonLake Immunotherapeutics has been upgraded to a "hold" rating by Redburn Atlantic, reflecting analysts' evolving sentiments on its stock.
• The stock has a consensus rating of "Moderate Buy" from seven analysts and an average price target of $73.14, indicating positive market expectations.
• MoonLake discussed its innovative nanobody therapy, Sonelokimab, for treating inflammatory diseases, highlighting its clinical-stage developments.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) was upgraded by investment analysts at Redburn Atlantic to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on MLTX. Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 3rd. Wedbush restated an "outperform" rating and issued a $80.00 price target (up from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Rothschild & Co Redburn initiated coverage on MoonLake Immunotherapeutics in a research note on Monday. They issued a "neutral" rating and a $65.00 price objective for the company. Finally, Wolfe Research raised shares of MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price objective for the company in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.14.

MoonLake Immunotherapeutics Stock Up 4.9%

NASDAQ:MLTX traded up $2.48 on Monday, reaching $52.92. 957,303 shares of the stock traded hands, compared to its average volume of 484,472. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -23.01 and a beta of 1.27. The company has a current ratio of 21.11, a quick ratio of 21.11 and a debt-to-equity ratio of 0.18. MoonLake Immunotherapeutics has a 12 month low of $31.42 and a 12 month high of $58.26. The company's fifty day simple moving average is $46.95 and its 200 day simple moving average is $42.77.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.63) earnings per share for the quarter, beating analysts' consensus estimates of ($0.76) by $0.13. During the same quarter in the prior year, the business earned ($0.22) EPS. Equities analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several institutional investors have recently bought and sold shares of MLTX. FMR LLC lifted its position in MoonLake Immunotherapeutics by 28.1% during the fourth quarter. FMR LLC now owns 6,341,391 shares of the company's stock valued at $343,386,000 after purchasing an additional 1,391,167 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its holdings in MoonLake Immunotherapeutics by 90.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company's stock valued at $95,965,000 after buying an additional 840,731 shares in the last quarter. Nuveen LLC purchased a new position in MoonLake Immunotherapeutics during the 1st quarter valued at about $26,308,000. Polar Capital Holdings Plc increased its position in MoonLake Immunotherapeutics by 120.0% during the 4th quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company's stock valued at $59,565,000 after purchasing an additional 600,000 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in MoonLake Immunotherapeutics by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company's stock valued at $181,059,000 after purchasing an additional 363,394 shares during the period. Institutional investors own 93.85% of the company's stock.

About MoonLake Immunotherapeutics

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.