MoonLake Immunotherapeutics (NASDAQ:MLTX) Issues Quarterly Earnings Results

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.76) by $0.13, Zacks reports. During the same period in the previous year, the company posted ($0.22) EPS.

MoonLake Immunotherapeutics Trading Down 0.1%

MLTX stock traded down $0.04 during mid-day trading on Friday, reaching $37.62. The company's stock had a trading volume of 351,510 shares, compared to its average volume of 356,351. The company's 50 day moving average is $38.40 and its two-hundred day moving average is $44.71. MoonLake Immunotherapeutics has a fifty-two week low of $31.42 and a fifty-two week high of $58.26. The stock has a market cap of $2.41 billion, a PE ratio of -29.16 and a beta of 1.31.

Institutional Inflows and Outflows

An institutional investor recently raised its position in MoonLake Immunotherapeutics stock. Millennium Management LLC boosted its stake 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 SEC. The fund owned 344,320 shares of the company's stock after buying an additional 334,320 shares during the period. Millennium Management LLC owned 0.54% of MoonLake Immunotherapeutics worth $13,453,000 at the end of the most recent quarter. Institutional investors and hedge funds own 93.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MLTX shares. Needham & Company LLC reiterated a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday. 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 research report on Thursday, February 27th. Royal Bank of Canada began coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $67.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, Wedbush reiterated 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $81.67.

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.