MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target Cut to $73.00 by Analysts at The Goldman Sachs Group

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price objective cut by analysts at The Goldman Sachs Group from $82.00 to $73.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 72.90% from the company’s current price.

MLTX has been the subject of a number of other research reports. Wedbush restated an “outperform” rating and set a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Needham & Company LLC boosted their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, HC Wainwright restated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $83.20.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX traded down $0.15 during trading on Thursday, hitting $42.22. 133,858 shares of the company traded hands, compared to its average volume of 430,539. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -32.88 and a beta of 1.28. The business’s fifty day moving average is $46.90 and its 200 day moving average is $48.99. MoonLake Immunotherapeutics has a fifty-two week low of $37.55 and a fifty-two week high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). On average, analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. FMR LLC increased its stake in MoonLake Immunotherapeutics by 28.1% in the 4th quarter. FMR LLC now owns 6,341,391 shares of the company’s stock valued at $343,386,000 after buying an additional 1,391,167 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in MoonLake Immunotherapeutics by 12.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock valued at $181,059,000 after purchasing an additional 363,394 shares during the period. Paradigm Biocapital Advisors LP raised its stake in shares of MoonLake Immunotherapeutics by 90.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock worth $95,965,000 after purchasing an additional 840,731 shares during the period. Federated Hermes Inc. boosted its holdings in shares of MoonLake Immunotherapeutics by 13.2% in the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company’s stock worth $69,315,000 after buying an additional 149,724 shares during the last quarter. Finally, Marshall Wace LLP grew its position in MoonLake Immunotherapeutics by 7.9% during the fourth quarter. Marshall Wace LLP now owns 1,245,299 shares of the company’s stock valued at $67,433,000 after buying an additional 90,914 shares during the period. 93.85% of the stock is owned by institutional investors.

About MoonLake Immunotherapeutics

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.