Cantor Fitzgerald Reiterates “Overweight” Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $65.00 target price on the stock. Cantor Fitzgerald’s target price points to a potential upside of 13.62% from the stock’s previous close.

Several other brokerages have also issued reports on MLTX. Needham & Company LLC reiterated a “buy” rating and issued a $76.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, September 12th. BTIG Research raised their price objective on shares of MoonLake Immunotherapeutics from $36.00 to $68.00 in a research report on Tuesday, June 27th. Bryan, Garnier & Co cut shares of MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday. Guggenheim lifted their price target on shares of MoonLake Immunotherapeutics from $51.00 to $65.00 in a research report on Monday, June 26th. Finally, SVB Securities increased their price objective on MoonLake Immunotherapeutics from $28.00 to $56.00 in a research report on Monday, June 26th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.80.

MoonLake Immunotherapeutics Stock Up 1.8 %

Shares of NASDAQ MLTX traded up $0.99 during midday trading on Monday, reaching $57.21. 65,895 shares of the stock were exchanged, compared to its average volume of 460,936. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of -55.01 and a beta of 1.46. The firm has a 50-day simple moving average of $55.48 and a two-hundred day simple moving average of $36.99. MoonLake Immunotherapeutics has a twelve month low of $6.93 and a twelve month high of $63.40.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Thursday, August 10th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Research analysts expect that MoonLake Immunotherapeutics will post -0.93 EPS for the current fiscal year.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, major shareholder Bihua Chen bought 800,000 shares of the stock in a transaction dated Friday, June 30th. The shares were acquired at an average cost of $50.00 per share, for a total transaction of $40,000,000.00. Following the completion of the transaction, the insider now owns 4,927,100 shares in the company, valued at approximately $246,355,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several institutional investors have recently bought and sold shares of MLTX. Nuveen Asset Management LLC acquired a new position in shares of MoonLake Immunotherapeutics during the second quarter worth about $7,140,000. Alliancebernstein L.P. purchased a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at approximately $42,726,000. Woodline Partners LP acquired a new position in MoonLake Immunotherapeutics during the 2nd quarter worth approximately $2,523,000. Goldman Sachs Group Inc. purchased a new position in shares of MoonLake Immunotherapeutics during the 2nd quarter worth approximately $4,565,000. Finally, Royal Bank of Canada lifted its holdings in shares of MoonLake Immunotherapeutics by 2,978.7% in the 2nd quarter. Royal Bank of Canada now owns 20,196 shares of the company’s stock valued at $1,030,000 after buying an additional 19,540 shares during the period.

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.