MoonLake Immunotherapeutics’ (MLTX) “Sector Perform” Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada restated their sector perform rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research note published on Monday morning, MarketBeat Ratings reports. The brokerage currently has a $10.00 price objective on the stock, down from their prior price objective of $67.00.

Other analysts also recently issued reports about the stock. Redburn Atlantic upgraded shares of MoonLake Immunotherapeutics to a “hold” rating in a research report on Monday, July 28th. BTIG Research lowered shares of MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a research note on Monday. Rothschild & Co Redburn began coverage on MoonLake Immunotherapeutics in a report on Monday, July 28th. They set a “neutral” rating and a $65.00 target price on the stock. Finally, The Goldman Sachs Group increased their price target on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.00.

MoonLake Immunotherapeutics Stock Down 89.9%

Shares of MoonLake Immunotherapeutics stock opened at $6.24 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 16.65 and a quick ratio of 16.65. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The business’s fifty day moving average price is $53.73 and its two-hundred day moving average price is $46.01. The company has a market capitalization of $400.80 million, a P/E ratio of -2.24 and a beta of 1.27.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.14). During the same quarter in the prior year, the business earned ($0.39) earnings per share. As a group, research analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Institutional Trading of MoonLake Immunotherapeutics

Large investors have recently added to or reduced their stakes in the business. Zimmer Partners LP bought a new position in shares of MoonLake Immunotherapeutics in the first quarter valued at $957,000. Caxton Associates LLP acquired a new position in shares of MoonLake Immunotherapeutics in the 1st quarter worth $347,000. Octagon Capital Advisors LP acquired a new stake in shares of MoonLake Immunotherapeutics during the first quarter worth $11,565,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 17.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,236 shares of the company’s stock valued at $2,287,000 after purchasing an additional 6,422 shares during the last quarter. Finally, Granahan Investment Management LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 4.2% during the first quarter. Granahan Investment Management LLC now owns 142,220 shares of the company’s stock valued at $5,557,000 after purchasing an additional 5,782 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Company Profile

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.