MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) shares rose 5% on Friday . The company traded as high as $43.80 and last traded at $43.76. Approximately 126,679 shares were traded during trading, a decline of 69% from the average daily volume of 407,205 shares. The stock had previously closed at $41.69.
Analyst Upgrades and Downgrades
MLTX has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 11th. Wedbush reissued an “outperform” rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, June 10th. Finally, Oppenheimer began coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, MoonLake Immunotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $79.00.
Get Our Latest Stock Report on MoonLake Immunotherapeutics
MoonLake Immunotherapeutics Price Performance
MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) last issued 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). As a group, sell-side analysts predict that MoonLake Immunotherapeutics will post -1.21 EPS for the current fiscal year.
Institutional Trading of MoonLake Immunotherapeutics
Institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter worth approximately $51,000. Stratos Wealth Partners LTD. purchased a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter worth approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $217,000. Graham Capital Management L.P. acquired a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $248,000. Finally, Bellevue Group AG acquired a new position in shares of MoonLake Immunotherapeutics in the 1st quarter valued at $221,000. Hedge funds and other 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.
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