MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Picked Up by Analysts at Chardan Capital

Stock analysts at Chardan Capital started coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report issued on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $57.00 price target on the stock. Chardan Capital‘s price objective would suggest a potential upside of 394.36% from the company’s current price.

A number of other research analysts also recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday, October 5th. Weiss Ratings upgraded MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Wall Street Zen downgraded MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, September 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Wednesday, September 16th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.09.

MoonLake Immunotherapeutics Stock Performance

Shares of MoonLake Immunotherapeutics stock opened at $11.53 on Friday. The stock has a market cap of $981.32 million, a price-to-earnings ratio of -3.14 and a beta of 1.14. MoonLake Immunotherapeutics has a twelve month low of $9.46 and a twelve month high of $23.29. The company’s fifty day moving average is $12.11 and its 200 day moving average is $16.33. The company has a quick ratio of 12.56, a current ratio of 12.56 and a debt-to-equity ratio of 0.23.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Wednesday, November 4th. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.10). Sell-side analysts forecast that MoonLake Immunotherapeutics will post -3.45 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Weiss Asset Management LP boosted its holdings in shares of MoonLake Immunotherapeutics by 413.1% in the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock worth $31,843,000 after purchasing an additional 1,375,367 shares during the period. Janus Henderson Group PLC raised its holdings in MoonLake Immunotherapeutics by 64.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock valued at $64,304,000 after buying an additional 1,355,640 shares during the period. Bank of America Corp DE raised its holdings in MoonLake Immunotherapeutics by 5,255.8% during the 1st quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock valued at $13,510,000 after buying an additional 711,261 shares during the period. Candriam S.C.A. raised its holdings in MoonLake Immunotherapeutics by 509.0% during the 1st quarter. Candriam S.C.A. now owns 818,126 shares of the company’s stock valued at $15,250,000 after buying an additional 683,797 shares during the period. Finally, Exome Asset Management LLC bought a new stake in MoonLake Immunotherapeutics in the first quarter worth $4,015,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for inflammatory and immunological diseases. The company is advancing medicines designed to address conditions in which the immune system contributes to chronic inflammation and tissue damage.

Its lead product candidate is sonelokimab, an investigational Nanobody-based therapy designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.