MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Down 6.9% - Here's Why

Key Points

• MoonLake Immunotherapeutics experienced a stock price decline of 6.9%, closing at $56.91 after trading as low as $57.44.
• Several research firms have set new price targets, with Goldman Sachs increasing their target from $74.00 to $82.00, while the average target across analysts stands at $74.43.
• The company reported earnings per share of ($0.87) for the latest quarter, missing expectations by ($0.14), while analysts predict a further ($1.79 EPS) for the current fiscal year.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s stock price fell 6.9% on Tuesday . The company traded as low as $57.44 and last traded at $56.91. 526,636 shares changed hands during trading, an increase of 8% from the average session volume of 488,309 shares. The stock had previously closed at $61.12.

Analysts Set New Price Targets

A number of research firms have weighed in on MLTX. The Goldman Sachs Group increased their target price on shares of MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wedbush reissued an "outperform" rating and set a $80.00 target price (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Wolfe Research raised shares of MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 target price for the company in a research report on Monday, May 19th. Needham & Company LLC reissued a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Finally, Redburn Atlantic upgraded MoonLake Immunotherapeutics to a "hold" rating in a report on Monday, July 28th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $74.43.

MoonLake Immunotherapeutics Trading Down 6.7%

The business has a fifty day moving average of $53.17 and a 200-day moving average of $44.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 16.65 and a current ratio of 16.65. The company has a market capitalization of $3.66 billion, a P/E ratio of -20.50 and a beta of 1.27.

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 prior year, the company posted ($0.39) earnings per share. Analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of large investors have recently modified their holdings of MLTX. Squarepoint Ops LLC lifted its stake in MoonLake Immunotherapeutics by 3.7% during the 2nd quarter. Squarepoint Ops LLC now owns 17,571 shares of the company's stock valued at $829,000 after acquiring an additional 629 shares in the last quarter. Hudson Bay Capital Management LP lifted its stake in MoonLake Immunotherapeutics by 31.3% during the 2nd quarter. Hudson Bay Capital Management LP now owns 105,000 shares of the company's stock valued at $4,956,000 after acquiring an additional 25,000 shares in the last quarter. Vestal Point Capital LP lifted its stake in MoonLake Immunotherapeutics by 175.0% during the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company's stock valued at $25,960,000 after acquiring an additional 350,000 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in MoonLake Immunotherapeutics by 436.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 423,170 shares of the company's stock valued at $19,974,000 after acquiring an additional 344,335 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in MoonLake Immunotherapeutics by 13.1% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,752 shares of the company's stock valued at $743,000 after acquiring an additional 1,819 shares in the last quarter. 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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