MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Up 4.1% - What's Next?

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) shares shot up 4.1% during mid-day trading on Monday . The stock traded as high as $40.38 and last traded at $39.92. 195,255 shares were traded during trading, a decline of 43% from the average session volume of 344,036 shares. The stock had previously closed at $38.33.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MLTX. Royal Bank of Canada assumed coverage on MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $67.00 price target for the company. Needham & Company LLC upped their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, February 27th. HC Wainwright restated a "buy" rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group reduced their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has a consensus rating of "Buy" and a consensus price target of $80.50.

MoonLake Immunotherapeutics Trading Down 0.1 %

The stock's 50-day simple moving average is $38.67 and its 200-day simple moving average is $45.60. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -30.56 and a beta of 1.32.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.09). On average, equities research analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLTX. Deutsche Bank AG boosted its stake in MoonLake Immunotherapeutics by 59.8% in 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 in the last quarter. Birchview Capital LP acquired a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at approximately $217,000. KLP Kapitalforvaltning AS bought a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at approximately $244,000. PEAK6 LLC acquired a new position in MoonLake Immunotherapeutics during the 4th quarter worth approximately $271,000. Finally, Mariner LLC bought a new position in MoonLake Immunotherapeutics in the 4th quarter valued at approximately $272,000. 93.85% of the stock is currently owned by institutional investors.

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.