MoonLake Immunotherapeutics (NASDAQ:MLTX) Sees Strong Trading Volume - Still a Buy?

Key Points

• MoonLake Immunotherapeutics (NASDAQ:MLTX) saw its trading volume increase by 323%, with over 5 million shares traded on a recent day, significantly up from the previous session.
• Multiple brokerages have downgraded their ratings on MoonLake Immunotherapeutics, leading to a consensus rating of "Hold" and an average price target of $37.00.
• The company's latest earnings report showed a loss per share of ($0.87), missing analysts' expectations and representing a wider deficit compared to the previous year.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) shares saw an uptick in trading volume on Friday . 5,398,286 shares were traded during mid-day trading, an increase of 323% from the previous session's volume of 1,275,089 shares.The stock last traded at $7.92 and had previously closed at $7.46.

Analyst Ratings Changes

Several brokerages recently issued reports on MLTX. Rothschild & Co Redburn began 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. HC Wainwright downgraded MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating in a report on Thursday. BTIG Research downgraded MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating and set a $85.00 target price for the company. in a research note on Monday. Guggenheim lowered their target price on MoonLake Immunotherapeutics from $80.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Citigroup downgraded MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, MoonLake Immunotherapeutics has a consensus rating of "Hold" and an average price target of $37.00.

MoonLake Immunotherapeutics Stock Up 13.0%

The company has a debt-to-equity ratio of 0.21, a current ratio of 16.65 and a quick ratio of 16.65. The stock's fifty day simple moving average is $50.88 and its 200-day simple moving average is $45.26. The stock has a market cap of $541.47 million, a P/E ratio of -3.03 and a beta of 1.11.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.14). During the same period in the previous year, the company earned ($0.39) EPS. On average, research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, major shareholder Bihua Chen sold 6,494,151 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $7.21, for a total value of $46,822,828.71. Following the transaction, the insider owned 2,000,000 shares in the company, valued at approximately $14,420,000. The trade was a 76.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MLTX. Deutsche Bank AG raised its position in shares of 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 last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of MoonLake Immunotherapeutics during the second quarter valued at about $74,000. US Bancorp DE increased its stake in MoonLake Immunotherapeutics by 114.4% in the first quarter. US Bancorp DE now owns 2,208 shares of the company's stock valued at $86,000 after acquiring an additional 1,178 shares during the period. Quarry LP bought a new stake in MoonLake Immunotherapeutics in the first quarter valued at about $94,000. Finally, Advisors Asset Management Inc. increased its stake in MoonLake Immunotherapeutics by 81.7% in the first quarter. Advisors Asset Management Inc. now owns 4,009 shares of the company's stock valued at $157,000 after acquiring an additional 1,803 shares during the period. 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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