MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Up 7.9% – What’s Next?

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price shot up 7.9% during mid-day trading on Tuesday . The stock traded as high as $58.26 and last traded at $57.19. 257,496 shares traded hands during trading, a decline of 28% from the average session volume of 356,903 shares. The stock had previously closed at $52.98.

Wall Street Analyst Weigh In

MLTX has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Wolfe Research downgraded MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Wedbush reissued an “outperform” rating and issued a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.43.

MoonLake Immunotherapeutics Trading Down 0.7 %

The firm’s 50-day moving average is $50.73 and its 200-day moving average is $47.61. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -40.22 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same quarter last year, the company earned ($0.18) EPS. Analysts forecast that MoonLake Immunotherapeutics will post -1.74 EPS for the current fiscal year.

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the sale, the director now directly owns 171,980 shares of the company’s stock, valued at $9,238,765.60. This represents a 49.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MLTX. FMR LLC grew its position in shares of MoonLake Immunotherapeutics by 35.8% in the third quarter. FMR LLC now owns 4,950,224 shares of the company’s stock valued at $249,590,000 after purchasing an additional 1,306,215 shares in the last quarter. Avoro Capital Advisors LLC boosted its holdings in shares of MoonLake Immunotherapeutics by 7.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock worth $121,797,000 after purchasing an additional 190,000 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in MoonLake Immunotherapeutics by 4.4% in the third quarter. Westfield Capital Management Co. LP now owns 1,167,358 shares of the company’s stock worth $58,858,000 after buying an additional 49,733 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of MoonLake Immunotherapeutics by 2.6% during the second quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock worth $49,617,000 after acquiring an additional 28,672 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of MoonLake Immunotherapeutics by 115.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock worth $48,307,000 after acquiring an additional 587,684 shares during the last quarter. 93.85% of the stock is currently owned by hedge funds and other 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.