The Goldman Sachs Group Reaffirms "Neutral" Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

Key Points

• The Goldman Sachs Group has reaffirmed its "neutral" rating for MoonLake Immunotherapeutics (NASDAQ:MLTX), with a price target of $7.00, indicating a potential upside of 0.44% from the current price.
• Multiple analysts have downgraded the stock recently, with BTIG Research moving from a "buy" to a "neutral" rating and reducing their price target significantly from $85.00 to $85.00.
• MoonLake Immunotherapeutics reported a quarterly loss of ($0.87) per share, missing analysts' expectations and reflecting a decline from a loss of ($0.39) per share during the same period last year.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s stock had its "neutral" rating reaffirmed by analysts at The Goldman Sachs Group in a report issued on Wednesday. They presently have a $7.00 price objective on the stock. The Goldman Sachs Group's price objective would indicate a potential upside of 0.44% from the company's current price.

A number of other equities analysts have also recently commented on MLTX. BTIG Research cut MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating and set a $85.00 price target on the stock. in a research note on Monday. Needham & Company LLC dropped their price target on MoonLake Immunotherapeutics from $66.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday. Wolfe Research cut MoonLake Immunotherapeutics from an "outperform" rating to an "underperform" rating in a research note on Tuesday. Redburn Atlantic upgraded MoonLake Immunotherapeutics to a "hold" rating in a research note on Monday, July 28th. Finally, Rothschild & Co Redburn assumed coverage on MoonLake Immunotherapeutics in a research report on Monday, July 28th. They set a "neutral" rating and a $65.00 price objective for the company. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $37.00.

MoonLake Immunotherapeutics Trading Down 2.8%

Shares of MoonLake Immunotherapeutics stock traded down $0.20 on Wednesday, hitting $6.97. The stock had a trading volume of 2,103,430 shares, compared to its average volume of 1,135,397. The stock has a 50 day moving average of $52.80 and a 200 day moving average of $45.74. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The firm has a market capitalization of $447.62 million, a P/E ratio of -2.49 and a beta of 1.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 16.65 and a current ratio of 16.65.

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 period in the prior year, the company posted ($0.39) earnings per share. Sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Institutional Trading of MoonLake Immunotherapeutics

Hedge funds have recently modified their holdings of the stock. Deutsche Bank AG raised its holdings in shares of MoonLake Immunotherapeutics by 59.8% during the fourth quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after acquiring an additional 338 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of MoonLake Immunotherapeutics by 0.9% during the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company's stock worth $2,809,000 after buying an additional 559 shares during the period. Squarepoint Ops LLC grew its stake in MoonLake Immunotherapeutics by 3.7% during the 2nd quarter. Squarepoint Ops LLC now owns 17,571 shares of the company's stock worth $829,000 after purchasing an additional 629 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in MoonLake Immunotherapeutics by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,200 shares of the company's stock worth $359,000 after purchasing an additional 700 shares in the last quarter. Finally, MPM Bioimpact LLC lifted its holdings in MoonLake Immunotherapeutics by 0.3% during the 1st quarter. MPM Bioimpact LLC now owns 316,049 shares of the company's stock worth $12,348,000 after buying an additional 819 shares during the last quarter. Hedge funds and other institutional investors own 93.85% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.