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

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a report issued on Monday, Benzinga reports.

MLTX has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Oppenheimer started coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They set an “outperform” rating and a $104.00 price objective for the company. Wolfe Research lowered shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.45.

MoonLake Immunotherapeutics Price Performance

Shares of MoonLake Immunotherapeutics stock opened at $54.26 on Monday. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of -72.35 and a beta of 1.26. The stock’s 50-day moving average is $47.04 and its 200-day moving average is $44.85. MoonLake Immunotherapeutics has a one year low of $35.11 and a one year high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same period in the prior year, the company earned ($0.23) EPS. On average, equities analysts expect that MoonLake Immunotherapeutics will post -1.45 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its holdings in shares of MoonLake Immunotherapeutics by 2.7% in the first quarter. California State Teachers Retirement System now owns 16,366 shares of the company’s stock valued at $822,000 after purchasing an additional 429 shares during the last quarter. Quarry LP purchased a new position in shares of MoonLake Immunotherapeutics in the 4th quarter worth approximately $51,000. DNB Asset Management AS grew its holdings in shares of MoonLake Immunotherapeutics by 29.8% in the second quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock valued at $324,000 after acquiring an additional 1,694 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in MoonLake Immunotherapeutics by 50.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock worth $371,000 after acquiring an additional 2,067 shares during the period. Finally, Affinity Asset Advisors LLC boosted its position in MoonLake Immunotherapeutics by 5.7% in the first quarter. Affinity Asset Advisors LLC now owns 75,000 shares of the company’s stock worth $3,767,000 after purchasing an additional 4,012 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.