MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Average Rating of “Buy” by Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Rating) has earned an average recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $21.20.

A number of equities analysts recently issued reports on MLTX shares. Lifesci Capital reiterated an “outperform” rating on shares of MoonLake Immunotherapeutics in a report on Wednesday, December 21st. Jefferies Financial Group initiated coverage on MoonLake Immunotherapeutics in a research report on Friday, November 11th. They set a “buy” rating and a $16.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday. Bryan, Garnier & Co initiated coverage on MoonLake Immunotherapeutics in a report on Thursday, February 2nd. They issued a “buy” rating and a $22.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, February 13th.

Institutional Trading of MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of MLTX. Goldman Sachs Group Inc. purchased a new position in shares of MoonLake Immunotherapeutics during the second quarter valued at approximately $62,000. Bank of America Corp DE purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter worth $83,000. Geode Capital Management LLC purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter worth $120,000. Renaissance Technologies LLC bought a new stake in MoonLake Immunotherapeutics in the fourth quarter worth $122,000. Finally, Two Sigma Investments LP bought a new stake in MoonLake Immunotherapeutics in the fourth quarter worth $130,000. Institutional investors own 76.13% of the company’s stock.

MoonLake Immunotherapeutics Stock Up 3.6 %

Shares of MLTX stock opened at $23.70 on Thursday. MoonLake Immunotherapeutics has a 52 week low of $4.25 and a 52 week high of $25.32. The firm has a 50 day moving average of $14.67 and a 200-day moving average of $10.69.

MoonLake Immunotherapeutics Company Profile

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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.