MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Up 2.2%

MoonLake Immunotherapeutics (NASDAQ:MLTXGet Rating) shares were up 2.2% on Tuesday . The stock traded as high as $7.42 and last traded at $7.40. Approximately 10,909 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 99,399 shares. The stock had previously closed at $7.24.

Analyst Ratings Changes

Several equities research analysts have weighed in on MLTX shares. SVB Leerink started coverage on shares of MoonLake Immunotherapeutics in a research report on Thursday, August 25th. They issued an “outperform” rating and a $17.00 price objective for the company. HC Wainwright started coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, July 21st. They issued a “buy” rating and a $28.00 target price on the stock. Cowen started coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, July 7th. They issued an “outperform” rating on the stock. Finally, Cowen started coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, July 7th. They set an “outperform” rating on the stock.

MoonLake Immunotherapeutics Trading Up 2.2 %

The business has a fifty day simple moving average of $7.17.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. bought a new stake in shares of MoonLake Immunotherapeutics in the second quarter valued at about $62,000. Cowen AND Company LLC bought a new stake in MoonLake Immunotherapeutics during the second quarter worth about $85,000. Meridian Wealth Management LLC bought a new stake in MoonLake Immunotherapeutics during the second quarter worth about $142,000. Millennium Management LLC bought a new stake in MoonLake Immunotherapeutics during the second quarter worth about $147,000. Finally, TD Asset Management Inc. bought a new stake in MoonLake Immunotherapeutics during the second quarter worth about $152,000.

MoonLake Immunotherapeutics Company Profile

(Get Rating)

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It is developing Sonelokimab, a novel investigational Nanobody therapy for the treatment of inflammation. The company is involved in conducting Phase II trials for hidradenitis suppurativa, psoriatic arthritis, ankylosing spondylitis, or radiographic axial spondyloarthritis.

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