MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research note issued to investors on Monday morning, Benzinga reports. Cantor Fitzgerald also issued estimates for MoonLake Immunotherapeutics’ FY2024 earnings at ($1.37) EPS.

Several other research firms have also issued reports on MLTX. HC Wainwright reaffirmed a buy rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Oppenheimer assumed coverage on MoonLake Immunotherapeutics in a research note on Tuesday, June 25th. They issued an outperform rating and a $104.00 price objective for the company. Needham & Company LLC reissued a buy rating and issued a $62.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Finally, Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an outperform rating to a peer perform rating in a report on Monday, August 26th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $80.45.

MoonLake Immunotherapeutics Trading Up 1.1 %

NASDAQ MLTX opened at $51.37 on Monday. The business has a fifty day simple moving average of $47.26 and a 200 day simple moving average of $44.94. MoonLake Immunotherapeutics has a 12 month low of $35.11 and a 12 month high of $64.98. The firm has a market capitalization of $3.28 billion, a P/E ratio of -68.49 and a beta of 1.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same quarter in the prior year, the company earned ($0.23) EPS. As a group, sell-side analysts predict that MoonLake Immunotherapeutics will post -1.57 EPS for the current fiscal year.

Institutional Trading of MoonLake Immunotherapeutics

A number of institutional investors have recently modified their holdings of MLTX. PNC Financial Services Group Inc. raised its holdings in MoonLake Immunotherapeutics by 50.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock valued at $371,000 after acquiring an additional 2,067 shares during the period. TD Asset Management Inc grew its position in shares of MoonLake Immunotherapeutics by 4.4% in the fourth quarter. TD Asset Management Inc now owns 209,142 shares of the company’s stock valued at $12,630,000 after purchasing an additional 8,752 shares in the last quarter. 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 valued at $54,049,000 after purchasing an additional 563,584 shares during the period. Affinity Asset Advisors LLC lifted its holdings in MoonLake Immunotherapeutics by 42.0% during the 4th quarter. Affinity Asset Advisors LLC now owns 70,988 shares of the company’s stock worth $4,287,000 after purchasing an additional 20,988 shares in the last quarter. Finally, CenterBook Partners LP boosted its stake in MoonLake Immunotherapeutics by 99.5% in the 4th quarter. CenterBook Partners LP now owns 22,781 shares of the company’s stock worth $1,376,000 after purchasing an additional 11,360 shares during the period. 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.