Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) gapped up before the market opened on Tuesday after Barclays raised their price target on the stock from $41.00 to $59.00. The stock had previously closed at $52.62, but opened at $62.26. MoonLake Immunotherapeutics shares last traded at $60.10, with a volume of 446,961 shares.
A number of other brokerages have also issued reports on MLTX. BTIG Research upped their target price on shares of MoonLake Immunotherapeutics from $36.00 to $68.00 in a research report on Tuesday, June 27th. Guggenheim increased their price objective on shares of MoonLake Immunotherapeutics from $51.00 to $65.00 in a report on Monday, June 26th. Cantor Fitzgerald increased their price objective on shares of MoonLake Immunotherapeutics from $29.00 to $65.00 in a report on Monday, July 3rd. Needham & Company LLC assumed coverage on shares of MoonLake Immunotherapeutics in a report on Thursday, August 31st. They issued a “buy” rating and a $76.00 price objective on the stock. Finally, Wedbush restated an “outperform” rating and issued a $86.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, August 14th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.80.
Insider Transactions at MoonLake Immunotherapeutics
Institutional Investors Weigh In On MoonLake Immunotherapeutics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLTX. Citadel Advisors LLC acquired a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at $13,916,000. Cormorant Asset Management LP increased its stake in MoonLake Immunotherapeutics by 18.1% in the 2nd quarter. Cormorant Asset Management LP now owns 8,142,100 shares of the company’s stock valued at $415,247,000 after buying an additional 1,249,999 shares during the last quarter. FMR LLC acquired a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at $6,264,000. Price T Rowe Associates Inc. MD acquired a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at $4,439,000. Finally, Alliancebernstein L.P. acquired a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at $42,726,000.
MoonLake Immunotherapeutics Trading Up 15.1 %
The firm’s 50 day simple moving average is $54.96 and its 200-day simple moving average is $35.91. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -58.24 and a beta of 1.46.
MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) last announced its quarterly earnings data on Thursday, August 10th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. As a group, equities research analysts predict that MoonLake Immunotherapeutics will post -0.96 earnings per share for the current year.
About MoonLake Immunotherapeutics
MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It is developing Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases. The company is involved in conducting Phase II trials for hidradenitis suppurativa, psoriatic arthritis, ankylosing spondylitis, or axial spondyloarthritis.
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