MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Up 5%

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) shot up 5% on Friday . The stock traded as high as $43.80 and last traded at $43.76. 126,679 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 407,205 shares. The stock had previously closed at $41.69.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Oppenheimer began coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday. They issued an “outperform” rating and a $104.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 11th. The Goldman Sachs Group assumed coverage on MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, June 10th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of “Moderate Buy” and an average price target of $79.00.

MoonLake Immunotherapeutics Trading Up 5.5 %

The stock has a 50 day simple moving average of $41.36 and a 200 day simple moving average of $49.51. The firm has a market capitalization of $2.81 billion, a PE ratio of -59.29 and a beta of 1.25.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Sunday, May 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). As a group, equities analysts anticipate that MoonLake Immunotherapeutics will post -1.21 earnings per share for the current year.

Institutional Trading of MoonLake Immunotherapeutics

A number of institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in MoonLake Immunotherapeutics during the 4th quarter valued at approximately $51,000. Barclays PLC bought a new position in shares of MoonLake Immunotherapeutics during the third quarter valued at approximately $189,000. Stratos Wealth Partners LTD. purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter worth $202,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in MoonLake Immunotherapeutics in the fourth quarter valued at $217,000. Finally, Graham Capital Management L.P. purchased a new position in MoonLake Immunotherapeutics during the 3rd quarter valued at $248,000. 93.85% of the stock is currently owned by hedge funds and other 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.