MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Up 2.7% - Time to Buy?

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) traded up 2.7% during mid-day trading on Wednesday . The company traded as high as $48.02 and last traded at $47.86. 425,225 shares changed hands during mid-day trading, an increase of 11% from the average session volume of 384,204 shares. The stock had previously closed at $46.61.

Analyst Ratings Changes

A number of brokerages have recently commented on MLTX. Royal Bank Of Canada reissued an "outperform" rating and set a $67.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 3rd. Needham & Company LLC reiterated a "buy" rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price objective on the stock in a report on Monday, May 19th. Finally, Wedbush reaffirmed an "outperform" rating and set a $80.00 price objective (up from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has a consensus rating of "Buy" and an average target price of $74.50.

MoonLake Immunotherapeutics Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 21.11 and a quick ratio of 21.11. The company's 50 day simple moving average is $42.27 and its 200 day simple moving average is $42.93. The company has a market capitalization of $2.97 billion, a PE ratio of -20.16 and a beta of 1.27.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its 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 posted ($0.22) earnings per share. As a group, sell-side analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in shares of MoonLake Immunotherapeutics by 28.1% in the 4th quarter. FMR LLC now owns 6,341,391 shares of the company's stock valued at $343,386,000 after purchasing an additional 1,391,167 shares during the period. Paradigm Biocapital Advisors LP lifted its stake in MoonLake Immunotherapeutics by 90.3% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company's stock valued at $95,965,000 after buying an additional 840,731 shares during the last quarter. Nuveen LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the first quarter valued at approximately $26,308,000. Polar Capital Holdings Plc grew its position in shares of MoonLake Immunotherapeutics by 120.0% during the fourth quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company's stock worth $59,565,000 after acquiring an additional 600,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of MoonLake Immunotherapeutics by 12.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company's stock worth $181,059,000 after acquiring an additional 363,394 shares during the last quarter. Hedge funds and other institutional investors 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.