MoonLake Immunotherapeutics’ (MLTX) Overweight Rating Reiterated at Cantor Fitzgerald

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “overweight” rating reissued by investment analysts at Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports.

Several other equities research analysts also recently commented on MLTX. Needham & Company LLC restated 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 restated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Oppenheimer assumed coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 25th. They set an “outperform” rating and a $104.00 price objective for the company. Finally, Wolfe Research downgraded MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.45.

MoonLake Immunotherapeutics Stock Up 0.6 %

Shares of MLTX opened at $54.04 on Monday. The company has a 50-day moving average price of $46.83 and a two-hundred day moving average price of $44.72. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -72.05 and a beta of 1.26. MoonLake Immunotherapeutics has a 12 month low of $35.11 and a 12 month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same period last year, the company posted ($0.23) earnings per share. Equities research analysts expect that MoonLake Immunotherapeutics will post -1.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Logos Global Management LP acquired a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at $32,978,000. Marshall Wace LLP increased its position in MoonLake Immunotherapeutics by 115.0% in the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock worth $48,307,000 after purchasing an additional 587,684 shares during the period. Avoro Capital Advisors LLC raised its holdings in MoonLake Immunotherapeutics by 29.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock worth $155,806,000 after purchasing an additional 580,001 shares during the last quarter. Finepoint Capital LP lifted its position in MoonLake Immunotherapeutics by 170.1% during the 4th quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock valued at $54,049,000 after purchasing an additional 563,584 shares during the period. Finally, Westfield Capital Management Co. LP lifted its position in MoonLake Immunotherapeutics by 48.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock valued at $45,753,000 after purchasing an additional 298,823 shares during the period. Institutional investors own 93.85% of the company’s stock.

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.