MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Gap Up to $21.55

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Rating) gapped up prior to trading on Friday . The stock had previously closed at $21.55, but opened at $22.51. MoonLake Immunotherapeutics shares last traded at $21.46, with a volume of 17,667 shares trading hands.

Analyst Ratings Changes

Several research firms have recently weighed in on MLTX. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, February 13th. Jefferies Financial Group assumed coverage on MoonLake Immunotherapeutics in a report on Friday, November 11th. They issued a “buy” rating and a $16.00 price target for the company. Cantor Fitzgerald assumed coverage on MoonLake Immunotherapeutics in a report on Tuesday, February 14th. They issued an “overweight” rating and a $23.00 price target for the company. Bryan, Garnier & Co began coverage on MoonLake Immunotherapeutics in a report on Thursday, February 2nd. They issued a “buy” rating and a $22.00 price target for the company. Finally, Lifesci Capital reaffirmed an “outperform” rating on shares of MoonLake Immunotherapeutics in a research note on Wednesday, December 21st. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of “Buy” and an average price target of $21.20.

MoonLake Immunotherapeutics Trading Up 2.1 %

The firm has a fifty day simple moving average of $13.90 and a 200-day simple moving average of $10.38.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently made changes to their positions in MLTX. TD Asset Management Inc. bought a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at approximately $152,000. Meridian Wealth Management LLC bought a new position in MoonLake Immunotherapeutics during the 2nd quarter worth $142,000. Alps Advisors Inc. bought a new position in MoonLake Immunotherapeutics during the 2nd quarter worth $164,000. UBS Group AG bought a new position in MoonLake Immunotherapeutics during the 2nd quarter worth $387,000. Finally, FMR LLC bought a new position in MoonLake Immunotherapeutics during the 2nd quarter worth $6,264,000. 76.13% of the stock is currently owned by institutional investors.

About MoonLake Immunotherapeutics

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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.