MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Gap Up – Here’s Why

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $41.47, but opened at $44.83. MoonLake Immunotherapeutics shares last traded at $43.38, with a volume of 119,893 shares changing hands.

Wall Street Analyst Weigh In

MLTX has been the topic of several research analyst reports. The Goldman Sachs Group upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $82.00 in a research note on Friday. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Wedbush reissued an “outperform” rating and issued a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Friday, January 10th. One 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $84.29.

MoonLake Immunotherapeutics Trading Up 7.4 %

The business has a 50 day moving average of $51.79 and a 200-day moving average of $48.93. The stock has a market cap of $2.85 billion, a PE ratio of -34.35 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period last year, the business posted ($0.18) earnings per share. On average, equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP increased its stake in shares of MoonLake Immunotherapeutics by 1.9% during the third quarter. GSA Capital Partners LLP now owns 22,127 shares of the company’s stock valued at $1,116,000 after acquiring an additional 403 shares during the period. US Bancorp DE purchased a new stake in MoonLake Immunotherapeutics in the 3rd quarter worth approximately $44,000. HighVista Strategies LLC lifted its position in MoonLake Immunotherapeutics by 3.1% in the 3rd quarter. HighVista Strategies LLC now owns 43,541 shares of the company’s stock worth $2,195,000 after buying an additional 1,292 shares in the last quarter. Parkman Healthcare Partners LLC raised its holdings in shares of MoonLake Immunotherapeutics by 1.6% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 102,813 shares of the company’s stock valued at $5,184,000 after purchasing an additional 1,589 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of MoonLake Immunotherapeutics by 172.7% during the 2nd quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $132,000 after purchasing an additional 1,900 shares in 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.