MoonLake Immunotherapeutics (NASDAQ:MLTX) Now Covered by Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report released on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $67.00 price target on the stock.

Several other analysts have also recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Needham & Company LLC raised their price target on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, The Goldman Sachs Group reduced their price target on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $80.50.

MoonLake Immunotherapeutics Trading Up 2.5 %

MoonLake Immunotherapeutics stock opened at $39.65 on Tuesday. MoonLake Immunotherapeutics has a twelve month low of $36.52 and a twelve month high of $58.26. The stock has a 50 day moving average of $43.07 and a two-hundred day moving average of $48.16. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -30.74 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). Equities analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently bought and sold shares of MLTX. Victory Capital Management Inc. increased its stake in MoonLake Immunotherapeutics by 24.7% in the 3rd quarter. Victory Capital Management Inc. now owns 217,839 shares of the company’s stock valued at $10,983,000 after purchasing an additional 43,157 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in MoonLake Immunotherapeutics by 4.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,167,358 shares of the company’s stock valued at $58,858,000 after purchasing an additional 49,733 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in MoonLake Immunotherapeutics by 3.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 118,126 shares of the company’s stock valued at $5,956,000 after purchasing an additional 3,892 shares in the last quarter. FMR LLC increased its stake in MoonLake Immunotherapeutics by 35.8% in the 3rd quarter. FMR LLC now owns 4,950,224 shares of the company’s stock valued at $249,590,000 after purchasing an additional 1,306,215 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in MoonLake Immunotherapeutics by 96.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,814 shares of the company’s stock valued at $1,806,000 after purchasing an additional 17,580 shares in the last quarter. 93.85% of the stock is 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.