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

Cantor Fitzgerald restated their overweight rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research note released on Monday morning, Benzinga reports.

Other research analysts have also issued reports about the stock. Needham & Company LLC reduced their target price on shares of MoonLake Immunotherapeutics from $66.00 to $62.00 and set a buy rating for the company in a research note on Thursday, August 8th. HC Wainwright reissued a buy rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, July 1st. Wolfe Research downgraded MoonLake Immunotherapeutics from an outperform rating to a peer perform rating in a research note on Monday, August 26th. Finally, Oppenheimer assumed coverage on MoonLake Immunotherapeutics in a research note on Tuesday, June 25th. They issued an outperform rating and a $104.00 price target for the company. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $78.67.

MoonLake Immunotherapeutics Stock Up 1.6 %

MLTX opened at $46.76 on Monday. The company’s 50-day moving average price is $45.55 and its 200 day moving average price is $44.73. MoonLake Immunotherapeutics has a fifty-two week low of $35.11 and a fifty-two week high of $64.98. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -62.35 and a beta of 1.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same quarter last year, the business posted ($0.23) earnings per share. Research analysts anticipate that MoonLake Immunotherapeutics will post -1.45 earnings per share for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Large investors have recently modified their holdings of the stock. Avoro Capital Advisors LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 7.4% during the second quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock valued at $121,797,000 after purchasing an additional 190,000 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in MoonLake Immunotherapeutics by 9.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock valued at $139,744,000 after buying an additional 196,144 shares in the last quarter. Federated Hermes Inc. lifted its stake in MoonLake Immunotherapeutics by 2.6% during the second quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock valued at $49,617,000 after buying an additional 28,672 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of 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 buying an additional 587,684 shares during the period. Finally, Westfield Capital Management Co. LP raised its holdings in shares of MoonLake Immunotherapeutics by 48.8% during the first quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock valued at $45,753,000 after acquiring an additional 298,823 shares during the period. 93.85% of the stock is owned by institutional investors.

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.