MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Gap Up Following Analyst Upgrade

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s stock price gapped up prior to trading on Thursday after Rothschild & Co Redburn upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $16.23, but opened at $17.20. Rothschild & Co Redburn now has a $40.00 price target on the stock. MoonLake Immunotherapeutics shares last traded at $16.5070, with a volume of 248,567 shares traded.

Several other equities research analysts have also recently weighed in on MLTX. Oppenheimer increased their target price on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Zacks Research raised shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. HC Wainwright upped their price objective on shares of MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. UBS Group set a $24.00 target price on shares of MoonLake Immunotherapeutics in a report on Friday, January 9th. Finally, Royal Bank Of Canada boosted their price target on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, MoonLake Immunotherapeutics currently has an average rating of “Hold” and an average target price of $25.92.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently made changes to their positions in the company. Elevation Point Wealth Partners LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter worth approximately $74,000. Kestra Advisory Services LLC bought a new stake in MoonLake Immunotherapeutics in the 4th quarter worth about $26,000. Russell Investments Group Ltd. raised its position in MoonLake Immunotherapeutics by 45.4% in the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after buying an additional 1,069 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in MoonLake Immunotherapeutics in the 4th quarter worth about $47,000. Finally, FNY Investment Advisers LLC bought a new position in MoonLake Immunotherapeutics during the 3rd quarter valued at about $28,000. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Stock Up 1.6%

The company’s 50 day simple moving average is $16.84 and its 200-day simple moving average is $19.68. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.18 billion, a P/E ratio of -4.68 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.92) EPS for the quarter, hitting the consensus estimate of ($0.92). During the same period in the prior year, the business posted ($0.72) earnings per share. Research analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

About MoonLake Immunotherapeutics

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.