MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Down 6.4% – Should You Sell?

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) traded down 6.4% during trading on Friday. The company traded as low as $11.56 and last traded at $11.5450. Approximately 312,096 shares traded hands during trading, a decline of 80% from the average session volume of 1,529,186 shares. The stock had previously closed at $12.34.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MLTX. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Wednesday, September 16th. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday, October 5th. Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Leerink Partners boosted their price target on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen downgraded shares of MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a research note on Sunday, September 27th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.50.

MoonLake Immunotherapeutics Stock Down 6.4%

The stock has a fifty day moving average price of $13.01 and a two-hundred day moving average price of $16.51. The company has a market cap of $983.02 million, a P/E ratio of -3.02 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 12.56 and a quick ratio of 12.56.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Monday, August 10th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.07. On average, research analysts expect that MoonLake Immunotherapeutics will post -3.34 EPS for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of MoonLake Immunotherapeutics by 156.2% during the second quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,045 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in MoonLake Immunotherapeutics in the second quarter worth about $39,000. EverSource Wealth Advisors LLC grew its holdings in shares of MoonLake Immunotherapeutics by 221.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock worth $53,000 after acquiring an additional 1,974 shares during the period. FNY Investment Advisers LLC bought a new position in MoonLake Immunotherapeutics in the second quarter worth $58,000. Finally, Arizona State Retirement System bought a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at $233,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for inflammatory and immunological diseases. The company is advancing medicines designed to address conditions in which the immune system contributes to chronic inflammation and tissue damage.

Its lead product candidate is sonelokimab, an investigational Nanobody-based therapy designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.