MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $49.77, but opened at $48.32. MoonLake Immunotherapeutics shares last traded at $49.06, with a volume of 5,171 shares traded.
Analyst Ratings Changes
Several equities analysts recently weighed in on MLTX shares. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, July 1st. Oppenheimer assumed coverage on MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 price target for the company. Needham & Company LLC cut their price target on MoonLake Immunotherapeutics from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Wolfe Research cut shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.67.
Read Our Latest Stock Analysis on MoonLake Immunotherapeutics
MoonLake Immunotherapeutics Price Performance
MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same period last year, the business posted ($0.23) earnings per share. Analysts predict that MoonLake Immunotherapeutics will post -1.21 EPS for the current fiscal year.
Institutional Investors Weigh In On MoonLake Immunotherapeutics
Several hedge funds have recently modified their holdings of MLTX. Quarry LP raised its stake in MoonLake Immunotherapeutics by 172.7% during the second quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $132,000 after purchasing an additional 1,900 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of MoonLake Immunotherapeutics by 37.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,234 shares of the company’s stock worth $5,023,000 after buying an additional 31,401 shares during the period. Millennium Management LLC raised its position in shares of MoonLake Immunotherapeutics by 596.0% in the 2nd quarter. Millennium Management LLC now owns 216,964 shares of the company’s stock worth $9,540,000 after buying an additional 185,789 shares during the period. Marshall Wace LLP boosted its holdings in MoonLake Immunotherapeutics by 115.0% in the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after acquiring an additional 587,684 shares during the last quarter. Finally, Logos Global Management LP purchased a new stake in MoonLake Immunotherapeutics during the second quarter valued at about $32,978,000. 93.85% of the stock is owned by institutional investors and hedge funds.
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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