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

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

Analyst Upgrades and Downgrades

Several analysts have commented on MLTX shares. Wedbush reaffirmed an "outperform" rating and issued a $80.00 price objective (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 price objective on the stock in a research report on Monday, May 19th. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research 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, June 3rd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $74.50.

MoonLake Immunotherapeutics Stock Down 3.1%

The company's 50 day simple moving average is $42.55 and its 200-day simple moving average is $42.75. The firm has a market capitalization of $2.97 billion, a PE ratio of -20.16 and a beta of 1.27. The company has a debt-to-equity ratio of 0.18, a quick ratio of 21.11 and a current ratio of 21.11.

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

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several institutional investors have recently modified their holdings of the company. FMR LLC lifted its holdings 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 worth $343,386,000 after acquiring an additional 1,391,167 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 valued at $181,059,000 after buying an additional 363,394 shares during the period. Paradigm Biocapital Advisors LP raised its holdings in shares of MoonLake Immunotherapeutics by 90.3% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company's stock valued at $95,965,000 after acquiring an additional 840,731 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of MoonLake Immunotherapeutics by 9.4% during the first quarter. Westfield Capital Management Co. LP now owns 1,434,770 shares of the company's stock valued at $56,056,000 after acquiring an additional 123,151 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in MoonLake Immunotherapeutics by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company's stock valued at $69,315,000 after purchasing an additional 149,724 shares during the period. 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.