MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Down 8.9%

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s stock price fell 8.9% during mid-day trading on Wednesday . The company traded as low as $45.05 and last traded at $45.72. 217,087 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 413,193 shares. The stock had previously closed at $50.19.

Wall Street Analyst Weigh In

MLTX has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, July 1st. Oppenheimer initiated coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, June 10th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.00.

MoonLake Immunotherapeutics Stock Performance

The company has a 50 day moving average price of $41.96 and a two-hundred day moving average price of $48.00. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of -60.03 and a beta of 1.25.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Sunday, May 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). On average, equities analysts expect that MoonLake Immunotherapeutics will post -1.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently bought and sold shares of the business. Perceptive Advisors LLC acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $4,976,000. Avoro Capital Advisors LLC grew its stake in shares of MoonLake Immunotherapeutics by 29.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock valued at $155,806,000 after purchasing an additional 580,001 shares during the period. Finepoint Capital LP boosted its holdings in shares of MoonLake Immunotherapeutics by 170.1% in the 4th quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock worth $54,049,000 after acquiring an additional 563,584 shares in the last quarter. Parkman Healthcare Partners LLC lifted its holdings in MoonLake Immunotherapeutics by 53.9% during the 4th quarter. Parkman Healthcare Partners LLC now owns 82,009 shares of the company’s stock worth $4,953,000 after buying an additional 28,716 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of MoonLake Immunotherapeutics by 9.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock valued at $139,744,000 after purchasing an additional 196,144 shares during the period. Institutional investors and hedge funds 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.