MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading 2.2% Higher

MoonLake Immunotherapeutics (NASDAQ:MLTXGet Rating)’s stock price traded up 2.2% on Tuesday . The stock traded as high as $7.42 and last traded at $7.40. 10,909 shares changed hands during trading, a decline of 89% from the average session volume of 99,399 shares. The stock had previously closed at $7.24.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Cowen initiated coverage on MoonLake Immunotherapeutics in a research note on Thursday, July 7th. They set an “outperform” rating on the stock. HC Wainwright initiated coverage on MoonLake Immunotherapeutics in a research report on Thursday, July 21st. They set a “buy” rating and a $28.00 target price for the company. Cowen initiated coverage on MoonLake Immunotherapeutics in a research report on Thursday, July 7th. They set an “outperform” rating for the company. Finally, SVB Leerink initiated coverage on MoonLake Immunotherapeutics in a research report on Thursday, August 25th. They set an “outperform” rating and a $17.00 target price for the company.

MoonLake Immunotherapeutics Price Performance

The business has a fifty day moving average price of $7.17.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several large investors have recently added to or reduced their stakes in MLTX. Goldman Sachs Group Inc. purchased a new stake in MoonLake Immunotherapeutics in the 2nd quarter worth about $62,000. Cowen AND Company LLC purchased a new stake in MoonLake Immunotherapeutics in the 2nd quarter worth about $85,000. Meridian Wealth Management LLC purchased a new stake in MoonLake Immunotherapeutics in the 2nd quarter worth about $142,000. Millennium Management LLC bought a new position in MoonLake Immunotherapeutics in the 2nd quarter worth about $147,000. Finally, TD Asset Management Inc. bought a new position in MoonLake Immunotherapeutics in the 2nd quarter worth about $152,000.

MoonLake Immunotherapeutics Company Profile

(Get Rating)

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It is developing Sonelokimab, a novel investigational Nanobody therapy for the treatment of inflammation. The company is involved in conducting Phase II trials for hidradenitis suppurativa, psoriatic arthritis, ankylosing spondylitis, or radiographic axial spondyloarthritis.

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