Needham & Company LLC Has Lowered Expectations for MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price

Key Points

• Needham & Company LLC has significantly lowered its price target for MoonLake Immunotherapeutics from $66.00 to $20.00, while maintaining a "buy" rating which suggests a potential upside of 220.51%.
• Other analysts have also revised their ratings; Citigroup downgraded the stock from "buy" to "neutral," and Royal Bank of Canada cut its target price from $67.00 to $10.00.
• Currently, MoonLake Immunotherapeutics shares are trading at $6.24, marking an 89.9% decrease from its high of $62.75 in the past year.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) had its price target cut by equities researchers at Needham & Company LLC from $66.00 to $20.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price indicates a potential upside of 220.51% from the stock's previous close.

A number of other equities analysts have also weighed in on MLTX. Citigroup lowered shares of MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating in a report on Tuesday. Redburn Atlantic raised shares of MoonLake Immunotherapeutics to a "hold" rating in a research note on Monday, July 28th. Rothschild & Co Redburn began coverage on shares of MoonLake Immunotherapeutics in a research note on Monday, July 28th. They issued a "neutral" rating and a $65.00 target price on the stock. Royal Bank Of Canada reissued a "sector perform" rating and issued a $10.00 target price (down previously from $67.00) on shares of MoonLake Immunotherapeutics in a research note on Monday. Finally, Stifel Nicolaus downgraded shares of MoonLake Immunotherapeutics from a "buy" rating to a "hold" rating and set a $13.00 target price on the stock. in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, MoonLake Immunotherapeutics currently has an average rating of "Hold" and an average price target of $52.40.

MoonLake Immunotherapeutics Trading Down 89.9%

Shares of MoonLake Immunotherapeutics stock opened at $6.24 on Tuesday. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The company has a current ratio of 16.65, a quick ratio of 16.65 and a debt-to-equity ratio of 0.21. The stock has a market cap of $400.80 million, a PE ratio of -2.24 and a beta of 1.27. The company has a 50-day moving average of $53.73 and a two-hundred day moving average of $46.01.

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 quarter in the prior year, the firm earned ($0.39) EPS. On average, research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MLTX. Deutsche Bank AG boosted its holdings in shares of MoonLake Immunotherapeutics by 59.8% in the 4th quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after buying an additional 338 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of MoonLake Immunotherapeutics by 17.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,236 shares of the company's stock valued at $2,287,000 after buying an additional 6,422 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at about $1,091,000. Harbor Capital Advisors Inc. boosted its stake in MoonLake Immunotherapeutics by 28.1% during the 1st quarter. Harbor Capital Advisors Inc. now owns 102,020 shares of the company's stock valued at $3,986,000 after purchasing an additional 22,372 shares during the period. Finally, Moody Aldrich Partners LLC acquired a new position in MoonLake Immunotherapeutics during the 1st quarter valued at about $2,158,000. 93.85% of the stock is owned by institutional investors and hedge funds.

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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