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

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) gapped up prior to trading on Monday . The stock had previously closed at $37.62, but opened at $38.85. MoonLake Immunotherapeutics shares last traded at $38.00, with a volume of 41,060 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Wolfe Research upgraded MoonLake Immunotherapeutics from a “peer perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a research note on Monday. The Goldman Sachs Group decreased their price objective 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. Royal Bank of Canada assumed coverage on MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They set an “outperform” rating and a $67.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $78.71.

MoonLake Immunotherapeutics Price Performance

The business has a fifty day moving average price of $38.45 and a two-hundred day moving average price of $44.62. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -31.22 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.13. During the same period last year, the business earned ($0.22) earnings per share. On average, research analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. FMR LLC increased its holdings in shares of MoonLake Immunotherapeutics by 28.1% in the fourth quarter. FMR LLC now owns 6,341,391 shares of the company’s stock valued at $343,386,000 after purchasing an additional 1,391,167 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in MoonLake Immunotherapeutics by 12.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock worth $181,059,000 after acquiring an additional 363,394 shares during the period. Paradigm Biocapital Advisors LP grew its holdings in MoonLake Immunotherapeutics by 90.3% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock worth $95,965,000 after acquiring an additional 840,731 shares during the period. Westfield Capital Management Co. LP grew its holdings in MoonLake Immunotherapeutics by 9.4% during the first quarter. Westfield Capital Management Co. LP now owns 1,434,770 shares of the company’s stock worth $56,056,000 after acquiring an additional 123,151 shares during the period. Finally, Federated Hermes Inc. grew its holdings in MoonLake Immunotherapeutics by 13.2% during the fourth quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company’s stock worth $69,315,000 after acquiring an additional 149,724 shares during the period. 93.85% of the stock is owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Company Profile

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.