MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Up 8.7% - Here's What Happened

Key Points

• MLTX shares rose about 8.7% intraday to $18.41 (high $18.38) on Tuesday, with only 127,881 shares traded — roughly 93% below average volume; the stock had closed at $16.93 previously.
• Multiple analysts boosted ratings and price targets (notably Rothschild & Co to a "buy" with a $40 target, and raises from Oppenheimer and HC Wainwright), yet MarketBeat shows a consensus rating of "Hold" and a consensus target of $23.08.
• MoonLake is a clinical-stage biotech with a $1.35 billion market cap, negative recent EPS (-$0.92) and an FY estimate of -1.79, but strong reported liquidity (quick and current ratios of 9.27) and roughly 93.9% institutional ownership.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s share price traded up 8.7% during mid-day trading on Tuesday . The company traded as high as $18.38 and last traded at $18.4090. 127,881 shares were traded during trading, a decline of 93% from the average session volume of 1,925,307 shares. The stock had previously closed at $16.93.

Analysts Set New Price Targets

MLTX has been the topic of a number of recent analyst reports. Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics from a "neutral" rating to a "buy" rating and boosted their price target for the company from $12.00 to $40.00 in a research report on Thursday, March 19th. Zacks Research upgraded shares of MoonLake Immunotherapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 24th. BTIG Research restated a "buy" rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday. Oppenheimer raised their price target on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an "outperform" rating in a report on Tuesday, February 24th. Finally, HC Wainwright lifted their price objective on MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $23.08.

MoonLake Immunotherapeutics Stock Up 10.9%

The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -5.34 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 9.27 and a current ratio of 9.27. The firm's 50-day simple moving average is $16.87 and its two-hundred day simple moving average is $17.13.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported ($0.92) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.92). During the same quarter last year, the business earned ($0.72) EPS. On average, sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in MLTX. Principal Financial Group Inc. acquired a new position in shares of MoonLake Immunotherapeutics during the third quarter valued at $509,000. Decheng Capital LLC acquired a new stake in MoonLake Immunotherapeutics in the second quarter worth about $8,572,000. Rhenman & Partners Asset Management AB raised its holdings in MoonLake Immunotherapeutics by 360.0% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 207,000 shares of the company's stock worth $1,484,000 after purchasing an additional 162,000 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in MoonLake Immunotherapeutics by 22,387.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 84,553 shares of the company's stock worth $606,000 after purchasing an additional 84,177 shares during the last quarter. Finally, Boxer Capital Management LLC acquired a new position in MoonLake Immunotherapeutics during the 3rd quarter valued at about $1,792,000. 93.85% of the stock is owned by institutional investors and hedge funds.

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.

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