The Goldman Sachs Group Cuts MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target to $73.00

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price target decreased by The Goldman Sachs Group from $82.00 to $73.00 in a research report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC raised their target price on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday. Finally, Wedbush reiterated an “outperform” rating and issued a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $83.20.

MoonLake Immunotherapeutics Trading Down 0.0 %

Shares of MLTX stock opened at $41.76 on Thursday. The stock has a 50 day moving average of $46.49 and a two-hundred day moving average of $48.91. MoonLake Immunotherapeutics has a 12 month low of $37.55 and a 12 month high of $58.26. The company has a market capitalization of $2.67 billion, a P/E ratio of -32.37 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.09). Sell-side analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in MLTX. Congress Asset Management Co. acquired a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $3,360,000. US Bancorp DE acquired a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $44,000. Rice Hall James & Associates LLC acquired a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth $3,805,000. Harbor Capital Advisors Inc. grew its stake in shares of MoonLake Immunotherapeutics by 100.2% during the third quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company’s stock worth $3,906,000 after purchasing an additional 38,779 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth $706,000. 93.85% of the stock is owned by institutional investors and hedge funds.

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.