MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Gap Up – Should You Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price 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.

Analyst Ratings Changes

A number of brokerages have recently commented on MLTX. 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 report on Monday. Needham & Company LLC restated a “buy” rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Wedbush reissued an “outperform” rating and set a $80.00 price target (up from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. The Goldman Sachs Group decreased their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Royal Bank of Canada started coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 price objective for the company. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, MoonLake Immunotherapeutics has an average rating of “Buy” and a consensus target price of $78.71.

MoonLake Immunotherapeutics Trading Up 3.0%

The firm has a fifty day simple moving average of $38.40 and a 200 day simple moving average of $44.70. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -29.93 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Monday, May 12th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.13. During the same period in the prior year, the firm earned ($0.22) earnings per share. On average, equities analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its holdings in shares of MoonLake Immunotherapeutics by 3.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company’s stock worth $460,000 after buying an additional 320 shares in the last quarter. Deutsche Bank AG grew its position in MoonLake Immunotherapeutics by 59.8% in the fourth quarter. Deutsche Bank AG now owns 903 shares of the company’s stock valued at $49,000 after acquiring an additional 338 shares during the period. Geode Capital Management LLC raised its stake in MoonLake Immunotherapeutics by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 58,950 shares of the company’s stock worth $3,192,000 after acquiring an additional 540 shares in the last quarter. MPM Bioimpact LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 0.3% during the first quarter. MPM Bioimpact LLC now owns 316,049 shares of the company’s stock valued at $12,348,000 after acquiring an additional 819 shares during the period. Finally, DnB Asset Management AS boosted its stake in shares of MoonLake Immunotherapeutics by 11.3% in the 4th quarter. DnB Asset Management AS now owns 8,356 shares of the company’s stock valued at $452,000 after purchasing an additional 847 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.