MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) from a neutral rating to a buy rating in a research note issued to investors on Friday morning, Marketbeat.com reports. The firm currently has $82.00 price objective on the stock, up from their previous price objective of $62.00.

Other research analysts have also recently issued research reports about the company. HC Wainwright reissued a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Friday, January 10th. Wedbush reissued an “outperform” rating and set a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $84.29.

MoonLake Immunotherapeutics Price Performance

MLTX stock opened at $43.81 on Friday. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -33.96 and a beta of 1.31. MoonLake Immunotherapeutics has a 1-year low of $37.55 and a 1-year high of $64.98. The firm has a fifty day moving average price of $51.63 and a two-hundred day moving average price of $49.05.

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

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in MoonLake Immunotherapeutics by 35.8% in the third quarter. FMR LLC now owns 4,950,224 shares of the company’s stock worth $249,590,000 after purchasing an additional 1,306,215 shares during the period. Logos Global Management LP acquired a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter worth approximately $32,978,000. Marshall Wace LLP raised its stake in shares of MoonLake Immunotherapeutics by 115.0% during the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock worth $48,307,000 after buying an additional 587,684 shares during the last quarter. Avoro Capital Advisors LLC lifted its holdings in MoonLake Immunotherapeutics by 7.4% in the second quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock valued at $121,797,000 after buying an additional 190,000 shares during the period. Finally, Millennium Management LLC boosted its stake in MoonLake Immunotherapeutics by 596.0% in the second quarter. Millennium Management LLC now owns 216,964 shares of the company’s stock valued at $9,540,000 after acquiring an additional 185,789 shares during the last quarter. 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.