Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX – Free Report) in a report issued on Tuesday, Marketbeat.com reports. The firm issued an outperform rating and a $67.00 price target on the stock.
MLTX has been the topic of a number of other research reports. The Goldman Sachs Group dropped their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC increased their price objective on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $80.50.
Get Our Latest Stock Analysis on MoonLake Immunotherapeutics
MoonLake Immunotherapeutics Price Performance
MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.09). Equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in MLTX. Victory Capital Management Inc. grew its stake in MoonLake Immunotherapeutics by 24.7% during the 3rd quarter. Victory Capital Management Inc. now owns 217,839 shares of the company’s stock worth $10,983,000 after buying an additional 43,157 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in MoonLake Immunotherapeutics by 4.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,167,358 shares of the company’s stock worth $58,858,000 after buying an additional 49,733 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in MoonLake Immunotherapeutics by 3.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 118,126 shares of the company’s stock worth $5,956,000 after buying an additional 3,892 shares during the last quarter. FMR LLC grew its stake in MoonLake Immunotherapeutics by 35.8% during the 3rd quarter. FMR LLC now owns 4,950,224 shares of the company’s stock worth $249,590,000 after buying an additional 1,306,215 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in MoonLake Immunotherapeutics by 96.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,814 shares of the company’s stock worth $1,806,000 after buying an additional 17,580 shares during the last quarter. 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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