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

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

A number of other brokerages have also commented on MLTX. Wolfe Research lowered MoonLake Immunotherapeutics from an outperform rating to a peer perform rating in a research report on Monday, August 26th. HC Wainwright reiterated a buy rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, July 1st. Oppenheimer began coverage on MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They issued an outperform rating and a $104.00 target price on the stock. Finally, Needham & Company LLC dropped their target price on MoonLake Immunotherapeutics from $66.00 to $62.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $78.67.

MoonLake Immunotherapeutics Stock Down 0.4 %

MLTX opened at $46.42 on Monday. MoonLake Immunotherapeutics has a 52-week low of $35.11 and a 52-week high of $64.98. The company has a market cap of $2.97 billion, a P/E ratio of -61.89 and a beta of 1.26. The firm’s 50-day moving average price is $45.68 and its 200-day moving average price is $44.69.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same quarter in the previous year, the firm posted ($0.23) earnings per share. On average, research analysts anticipate that MoonLake Immunotherapeutics will post -1.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MLTX. Logos Global Management LP acquired a new position in shares of MoonLake Immunotherapeutics during the 2nd quarter worth approximately $32,978,000. Marshall Wace LLP raised its stake in shares of MoonLake Immunotherapeutics by 115.0% during the 2nd 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. Avoro Capital Advisors LLC raised its stake in shares of MoonLake Immunotherapeutics by 29.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock worth $155,806,000 after buying an additional 580,001 shares during the period. Finepoint Capital LP raised its stake in shares of MoonLake Immunotherapeutics by 170.1% during the 4th quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock worth $54,049,000 after buying an additional 563,584 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake in shares of MoonLake Immunotherapeutics by 48.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock worth $45,753,000 after buying an additional 298,823 shares during the period. 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.