MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Down 3.2% – What’s Next?

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s stock price dropped 3.2% during mid-day trading on Friday . The company traded as low as $50.21 and last traded at $50.21. 1,849 shares changed hands during trading, a decline of 99% from the average daily volume of 355,601 shares. The stock had previously closed at $51.88.

Wall Street Analyst Weigh In

MLTX has been the topic of a number of research reports. Wedbush reaffirmed an “outperform” rating and issued a $73.00 price target (down from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Wolfe Research downgraded MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.43.

MoonLake Immunotherapeutics Stock Up 4.0 %

The stock’s 50-day moving average price is $50.82 and its 200 day moving average price is $47.64. The company has a market cap of $3.45 billion, a P/E ratio of -41.83 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period in the previous year, the business earned ($0.18) EPS. Analysts expect that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current fiscal year.

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $53.72, for a total value of $9,186,120.00. Following the transaction, the director now directly owns 171,980 shares of the company’s stock, valued at $9,238,765.60. The trade was a 49.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 12.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

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