MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $12.06 and traded as high as $12.91. MoonLake Immunotherapeutics shares last traded at $12.62, with a volume of 1,592,523 shares traded.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on MLTX. HC Wainwright reiterated a "buy" rating and set a $50.00 price target on shares of MoonLake Immunotherapeutics in a report on Monday, October 5th. Chardan Capital started coverage on shares of MoonLake Immunotherapeutics in a research note on Friday. They issued a "buy" rating and a $57.00 price objective for the company. Wall Street Zen lowered MoonLake Immunotherapeutics from a "sell" rating to a "strong sell" rating in a research report on Sunday, September 27th. Weiss Ratings raised MoonLake Immunotherapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, August 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of MoonLake Immunotherapeutics in a report on Wednesday, September 16th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $31.09.
Read Our Latest Analysis on MLTX
MoonLake Immunotherapeutics Price Performance
The stock has a market capitalization of $1.07 billion, a PE ratio of -3.44 and a beta of 1.14. The company has a quick ratio of 12.56, a current ratio of 12.56 and a debt-to-equity ratio of 0.23. The stock's 50 day moving average price is $12.06 and its 200-day moving average price is $16.31.
MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.10). As a group, equities analysts forecast that MoonLake Immunotherapeutics will post -3.45 EPS for the current year.
Hedge Funds Weigh In On MoonLake Immunotherapeutics
A number of hedge funds have recently added to or reduced their stakes in MLTX. Weiss Asset Management LP increased its position in shares of MoonLake Immunotherapeutics by 413.1% during the first quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company's stock worth $31,843,000 after acquiring an additional 1,375,367 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of MoonLake Immunotherapeutics by 64.7% in the first quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company's stock valued at $64,304,000 after purchasing an additional 1,355,640 shares during the period. Bank of America Corp DE boosted its holdings in shares of MoonLake Immunotherapeutics by 5,255.8% in the first quarter. Bank of America Corp DE now owns 724,794 shares of the company's stock valued at $13,510,000 after purchasing an additional 711,261 shares during the period. Exome Asset Management LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the first quarter valued at approximately $4,015,000. Finally, Readystate Asset Management LP bought a new position in MoonLake Immunotherapeutics in the first quarter worth approximately $2,689,000. 93.85% of the stock is currently owned by institutional investors.
About MoonLake Immunotherapeutics
(
Get Free Report)
MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for inflammatory and immunological diseases. The company is advancing medicines designed to address conditions in which the immune system contributes to chronic inflammation and tissue damage.
Its lead product candidate is sonelokimab, an investigational Nanobody-based therapy designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.
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