MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Consensus Recommendation of "Buy" from Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) have been given a consensus rating of "Buy" by the eight research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $80.50.

Several research analysts have commented on MLTX shares. Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They issued an "outperform" rating and a $67.00 price target for the company. The Goldman Sachs Group reduced their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC upped their target price on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, HC Wainwright reiterated a "buy" rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th.

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX traded down $0.03 during trading hours on Tuesday, hitting $39.42. The company had a trading volume of 334,612 shares, compared to its average volume of 345,785. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of -30.56 and a beta of 1.32. MoonLake Immunotherapeutics has a 52 week low of $31.42 and a 52 week high of $58.26. The firm has a 50 day simple moving average of $38.67 and a 200 day simple moving average of $45.60.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.09). On average, research analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of large investors have recently added to or reduced their stakes in the business. Deutsche Bank AG boosted its position in MoonLake Immunotherapeutics by 59.8% during the fourth quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after buying an additional 338 shares during the period. Birchview Capital LP bought a new position in shares of MoonLake Immunotherapeutics during the fourth quarter valued at about $217,000. KLP Kapitalforvaltning AS bought a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $244,000. PEAK6 LLC purchased a new position in MoonLake Immunotherapeutics during the 4th quarter valued at about $271,000. Finally, Mariner LLC bought a new position in MoonLake Immunotherapeutics during the 4th quarter valued at approximately $272,000. Hedge funds and other 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.