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

Equities researchers at Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $67.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 73.26% from the stock’s previous close.

MLTX has been the subject of a number of other research reports. The Goldman Sachs Group lowered their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Finally, Needham & Company LLC upped their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a research 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $80.50.

MoonLake Immunotherapeutics Trading Up 0.3 %

Shares of NASDAQ:MLTX opened at $38.67 on Tuesday. MoonLake Immunotherapeutics has a 12 month low of $36.52 and a 12 month high of $58.26. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -29.98 and a beta of 1.31. The company has a 50-day moving average price of $43.28 and a 200-day moving average price of $48.21.

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

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several large investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in MoonLake Immunotherapeutics by 96.4% during 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. Erste Asset Management GmbH bought a new stake in shares of MoonLake Immunotherapeutics during the third quarter valued at approximately $741,000. Barclays PLC raised its holdings in MoonLake Immunotherapeutics by 1,269.2% in the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after acquiring an additional 5,229 shares during the last quarter. State Street Corp raised its holdings in MoonLake Immunotherapeutics by 96.2% in the 3rd quarter. State Street Corp now owns 87,637 shares of the company’s stock worth $4,419,000 after acquiring an additional 42,980 shares during the last quarter. Finally, Congress Asset Management Co. lifted its position in MoonLake Immunotherapeutics by 9.5% in the 4th quarter. Congress Asset Management Co. now owns 72,993 shares of the company’s stock valued at $3,953,000 after acquiring an additional 6,352 shares in the last quarter. Hedge funds and other 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.