MoonLake Immunotherapeutics (NASDAQ:MLTX) Releases Earnings Results, Misses Estimates By $0.16 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) posted its earnings results on Wednesday. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.16), FiscalAI reports.

MoonLake Immunotherapeutics Trading Down 1.2%

Shares of NASDAQ MLTX traded down $0.14 during mid-day trading on Wednesday, reaching $11.56. The company had a trading volume of 1,225,931 shares, compared to its average volume of 1,852,389. The firm has a 50 day simple moving average of $12.28 and a two-hundred day simple moving average of $16.38. MoonLake Immunotherapeutics has a 52-week low of $9.46 and a 52-week high of $23.29. The company has a current ratio of 12.56, a quick ratio of 12.56 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

MLTX has been the subject of several analyst reports. Weiss Ratings raised MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Wall Street Zen lowered MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, September 27th. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, October 5th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Wednesday, September 16th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, MoonLake Immunotherapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $28.50.

About MoonLake Immunotherapeutics

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.