Royal Bank of Canada Reiterates Outperform Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

Royal Bank of Canada reissued their outperform rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) in a report issued on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $67.00 target price on the stock.

MLTX has been the topic of a number of other reports. The Goldman Sachs Group dropped their target price on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $66.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Wolfe Research upgraded MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price objective for the company in a research report on Monday, May 19th. Wedbush reissued an "outperform" rating and set a $80.00 price objective (up from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $78.71.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX traded down $2.22 during midday trading on Tuesday, reaching $48.83. The stock had a trading volume of 1,381,442 shares, compared to its average volume of 376,008. The company has a market capitalization of $3.13 billion, a P/E ratio of -37.85 and a beta of 1.31. The firm's 50 day moving average price is $38.74 and its 200-day moving average price is $43.93. MoonLake Immunotherapeutics has a 52 week low of $31.42 and a 52 week high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.76) by $0.13. During the same period last year, the business earned ($0.22) EPS. On average, equities analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Trading of MoonLake Immunotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its position in MoonLake Immunotherapeutics by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company's stock valued at $460,000 after purchasing an additional 320 shares in the last quarter. Deutsche Bank AG lifted its position in MoonLake Immunotherapeutics by 59.8% in the 4th quarter. Deutsche Bank AG now owns 903 shares of the company's stock worth $49,000 after buying an additional 338 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of MoonLake Immunotherapeutics by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 58,950 shares of the company's stock valued at $3,192,000 after buying an additional 540 shares during the period. MPM Bioimpact LLC grew its holdings in shares of MoonLake Immunotherapeutics by 0.3% during the 1st quarter. MPM Bioimpact LLC now owns 316,049 shares of the company's stock valued at $12,348,000 after acquiring an additional 819 shares in the last quarter. Finally, DnB Asset Management AS grew its holdings in shares of MoonLake Immunotherapeutics by 11.3% during the 4th quarter. DnB Asset Management AS now owns 8,356 shares of the company's stock valued at $452,000 after acquiring an additional 847 shares in the last quarter. 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.