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

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) dropped 3.9% during mid-day trading on Friday . The company 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.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MLTX. HC Wainwright reiterated a "buy" rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Wolfe Research upgraded MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price target on the stock in a report on Monday, May 19th. The Goldman Sachs Group reduced their price target on 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 reiterated a "buy" rating and issued a $66.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Finally, Wedbush reiterated an "outperform" rating and issued a $80.00 price target (up from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $78.71.

MoonLake Immunotherapeutics Stock Down 0.6%

The company has a market cap of $2.98 billion, a P/E ratio of -36.14 and a beta of 1.23. The firm has a 50 day moving average of $39.32 and a 200-day moving average of $43.76.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Deutsche Bank AG boosted its position in MoonLake Immunotherapeutics by 59.8% during the 4th quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after acquiring an additional 338 shares in the last quarter. US Bancorp DE boosted its position in 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 acquiring an additional 1,178 shares in the last quarter. Quarry LP bought a new stake in MoonLake Immunotherapeutics during the 1st quarter valued at $94,000. Birchview Capital LP bought a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at $217,000. Finally, Advisors Asset Management Inc. boosted its position in MoonLake Immunotherapeutics by 81.7% during the 1st 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 in the last quarter. 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.