MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Rating Reaffirmed by HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They presently have a $100.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 149.07% from the company’s current price.

MLTX has been the subject of several other research reports. Wedbush reaffirmed an “outperform” rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. Oppenheimer initiated coverage on MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday, June 10th. Finally, The Goldman Sachs Group initiated coverage on MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 price objective for the company. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $79.00.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $40.15 on Monday. MoonLake Immunotherapeutics has a one year low of $35.11 and a one year high of $64.98. The stock has a market cap of $2.57 billion, a PE ratio of -53.53 and a beta of 1.25. The stock has a 50 day moving average price of $41.35 and a 200 day moving average price of $49.09.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Sunday, May 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). As a group, analysts predict that MoonLake Immunotherapeutics will post -1.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP purchased a new position in MoonLake Immunotherapeutics in the fourth quarter valued at $51,000. Stratos Wealth Partners LTD. purchased a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at about $202,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at about $217,000. Graham Capital Management L.P. purchased a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at about $248,000. Finally, Bellevue Group AG purchased a new stake in shares of MoonLake Immunotherapeutics in the 1st quarter valued at about $221,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

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.