MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Down 3.9% - What's Next?

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) dropped 3.9% during mid-day trading on Friday . The stock traded as low as $47.24 and last traded at $46.95. Approximately 607,305 shares traded hands during trading, an increase of 61% from the average daily volume of 377,278 shares. The stock had previously closed at $48.83.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MLTX shares. 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 report on Monday, May 19th. HC Wainwright restated a "buy" rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Wedbush restated an "outperform" rating and issued a $80.00 price target (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Needham & Company LLC restated a "buy" rating and issued a $66.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of "Buy" and a consensus target price of $78.71.

MoonLake Immunotherapeutics Trading Down 4.2%

The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -36.31 and a beta of 1.23. The stock has a 50-day simple moving average of $38.94 and a 200-day simple moving average of $43.93.

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

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently made changes to their positions in MLTX. Deutsche Bank AG increased its stake 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 purchasing an additional 338 shares during the last quarter. US Bancorp DE grew its position in shares of MoonLake Immunotherapeutics by 114.4% during the 1st quarter. US Bancorp DE now owns 2,208 shares of the company's stock valued at $86,000 after buying an additional 1,178 shares during the last quarter. Quarry LP acquired a new stake in MoonLake Immunotherapeutics during the first quarter worth about $94,000. Advisors Asset Management Inc. boosted 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. Finally, Birchview Capital LP acquired a new position in MoonLake Immunotherapeutics in the fourth quarter valued at approximately $217,000. 93.85% of the stock is currently owned by institutional investors.

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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