MoonLake Immunotherapeutics (NASDAQ:MLTX) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research note published on Thursday morning,Benzinga reports. HC Wainwright currently has a $100.00 price objective on the stock.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $82.00 in a research report on Friday, January 17th. Wedbush reiterated an “outperform” rating and issued a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $83.20.

MoonLake Immunotherapeutics Stock Down 1.4 %

NASDAQ:MLTX opened at $41.77 on Thursday. MoonLake Immunotherapeutics has a 52-week low of $37.55 and a 52-week high of $58.26. The company has a market capitalization of $2.67 billion, a PE ratio of -32.38 and a beta of 1.28. The stock’s 50 day moving average price is $46.90 and its 200 day moving average price is $48.99.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). As a group, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MLTX. Jefferies Financial Group Inc. bought a new position in MoonLake Immunotherapeutics in the fourth quarter worth approximately $338,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of MoonLake Immunotherapeutics by 17.9% in the fourth 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 purchasing an additional 6,422 shares in the last quarter. Woodline Partners LP raised its position in shares of MoonLake Immunotherapeutics by 26.3% in the fourth quarter. Woodline Partners LP now owns 293,535 shares of the company’s stock worth $15,895,000 after buying an additional 61,105 shares in the last quarter. Wexford Capital LP raised its position in shares of MoonLake Immunotherapeutics by 71.4% during the 4th quarter. Wexford Capital LP now owns 24,000 shares of the company’s stock valued at $1,300,000 after buying an additional 10,000 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of MoonLake Immunotherapeutics during the fourth quarter worth approximately $5,346,000. 93.85% of the stock is owned by institutional investors.

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.