Analysts Set MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target at $84.29

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have received an average recommendation of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $84.29.

A number of equities analysts have weighed in on MLTX shares. The Goldman Sachs Group raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $82.00 in a research report on Friday, January 17th. Wedbush reissued an “outperform” rating and issued a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Friday, January 10th.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX opened at $44.07 on Thursday. MoonLake Immunotherapeutics has a fifty-two week low of $37.55 and a fifty-two week high of $64.98. The business has a 50-day simple moving average of $49.69 and a two-hundred day simple moving average of $49.07. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -34.16 and a beta of 1.28.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its stake in shares of MoonLake Immunotherapeutics by 3.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company’s stock valued at $460,000 after acquiring an additional 320 shares during the period. Rice Hall James & Associates LLC grew its stake in shares of MoonLake Immunotherapeutics by 47.3% during the 4th quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company’s stock valued at $6,018,000 after acquiring an additional 35,664 shares during the period. Congress Asset Management Co. grew its stake in shares of MoonLake Immunotherapeutics by 9.5% during the 4th quarter. Congress Asset Management Co. now owns 72,993 shares of the company’s stock valued at $3,953,000 after acquiring an additional 6,352 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of MoonLake Immunotherapeutics by 2.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 79,648 shares of the company’s stock valued at $4,313,000 after acquiring an additional 2,180 shares during the period. Finally, Barclays PLC grew its stake in shares of MoonLake Immunotherapeutics by 1,269.2% during the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock valued at $283,000 after acquiring an additional 5,229 shares during the period. 93.85% of the stock is currently 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.