MoonLake Immunotherapeutics (NASDAQ:MLTX) Sees Unusually-High Trading Volume – What’s Next?

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) saw strong trading volume on Monday . 463,252 shares traded hands during trading, an increase of 60% from the previous session’s volume of 290,290 shares.The stock last traded at $52.10 and had previously closed at $53.45.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MLTX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Finally, Wedbush reiterated an “outperform” rating and set a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.43.

MoonLake Immunotherapeutics Stock Down 3.2 %

The company has a market capitalization of $3.31 billion, a P/E ratio of -40.12 and a beta of 1.31. The business has a fifty day moving average price of $52.01 and a 200 day moving average price of $48.57.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period in the previous year, the business earned ($0.18) earnings per share. As a group, equities analysts forecast that MoonLake Immunotherapeutics will post -1.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MLTX. GSA Capital Partners LLP boosted its stake in shares of MoonLake Immunotherapeutics by 1.9% during the 3rd quarter. GSA Capital Partners LLP now owns 22,127 shares of the company’s stock worth $1,116,000 after buying an additional 403 shares during the last quarter. US Bancorp DE bought a new stake in MoonLake Immunotherapeutics during the third quarter worth about $44,000. HighVista Strategies LLC boosted its position in MoonLake Immunotherapeutics by 3.1% during the third quarter. HighVista Strategies LLC now owns 43,541 shares of the company’s stock valued at $2,195,000 after purchasing an additional 1,292 shares during the last quarter. Parkman Healthcare Partners LLC grew its stake in MoonLake Immunotherapeutics by 1.6% in the third quarter. Parkman Healthcare Partners LLC now owns 102,813 shares of the company’s stock valued at $5,184,000 after purchasing an additional 1,589 shares in the last quarter. Finally, Quarry LP increased its position in shares of MoonLake Immunotherapeutics by 172.7% during the 2nd quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $132,000 after purchasing an additional 1,900 shares during the last quarter. 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.