MoonLake Immunotherapeutics (NASDAQ:MLTX) Now Covered by Chardan Capital

by · The Markets Daily

Chardan Capital initiated coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX – Free Report) in a research note released on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $57.00 price target on the stock.

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

View Our Latest Analysis on MLTX

MoonLake Immunotherapeutics Stock Up 6.8%

Shares of NASDAQ:MLTX traded up $0.73 during trading hours on Friday, reaching $11.53. The stock had a trading volume of 1,033,823 shares, compared to its average volume of 1,962,259. The stock has a market capitalization of $981.32 million, a price-to-earnings ratio of -3.14 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 12.56 and a current ratio of 12.56. The firm’s 50 day moving average is $12.11 and its 200-day moving average is $16.33. MoonLake Immunotherapeutics has a 1 year low of $9.46 and a 1 year high of $23.29.

MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.10). Research analysts predict that MoonLake Immunotherapeutics will post -3.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

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

MoonLake Immunotherapeutics Company Profile

(Get Free Report)

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.

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