Royal Bank Of Canada Reaffirms Sector Perform Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

Key Points

• Royal Bank Of Canada has restated its "sector perform" rating for MoonLake Immunotherapeutics, with a target price reduced to $10.00 from $67.00, indicating a potential upside of 45.67% from the current stock price.
• Other analysts have varied opinions, with BTIG Research cutting its rating to "neutral" and setting a target price of $85.00, while the Goldman Sachs Group upgraded their target to $82.00 with a "buy" rating.
• MoonLake's stock has seen significant fluctuations, with a 52-week range of $6.56 to $62.75, and it recently reported an EPS of ($0.87), missing the consensus estimate.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s stock had its "sector perform" rating restated by Royal Bank Of Canada in a research report issued on Monday,Benzinga reports. They currently have a $10.00 target price on the stock, down from their prior target price of $67.00. Royal Bank Of Canada's price target suggests a potential upside of 45.67% from the stock's current price.

Several other research analysts have also recently commented on the stock. BTIG Research cut shares of MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating and set a $85.00 target price for the company. in a research report on Monday. Rothschild & Co Redburn initiated coverage on shares of MoonLake Immunotherapeutics in a research report on Monday, July 28th. They issued a "neutral" rating and a $65.00 target price for the company. The Goldman Sachs Group increased their price objective on shares of MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Redburn Atlantic upgraded shares of MoonLake Immunotherapeutics to a "hold" rating in a report on Monday, July 28th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.63.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX opened at $6.87 on Monday. MoonLake Immunotherapeutics has a 52 week low of $6.56 and a 52 week 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 $440.94 million, a price-to-earnings ratio of -2.47 and a beta of 1.27. The company has a 50-day moving average price of $54.68 and a two-hundred day moving average price of $46.24.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same period in the previous year, the company posted ($0.39) EPS. Analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westfield Capital Management Co. LP lifted its stake in 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 purchasing an additional 123,151 shares during the last quarter. Alliancebernstein L.P. lifted its stake in MoonLake Immunotherapeutics by 17.8% during the second quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company's stock valued at $53,715,000 after purchasing an additional 171,932 shares during the last quarter. Hood River Capital Management LLC lifted its stake in MoonLake Immunotherapeutics by 1.9% during the second quarter. Hood River Capital Management LLC now owns 675,445 shares of the company's stock valued at $31,881,000 after purchasing an additional 12,462 shares during the last quarter. Nuveen LLC acquired a new stake in MoonLake Immunotherapeutics during the first quarter valued at approximately $26,308,000. Finally, Vestal Point Capital LP lifted its stake in MoonLake Immunotherapeutics by 175.0% during the second quarter. Vestal Point Capital LP now owns 550,000 shares of the company's stock valued at $25,960,000 after purchasing an additional 350,000 shares during the last quarter. 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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