MoonLake Immunotherapeutics (NASDAQ:MLTX) Hits New 52-Week Low on Analyst Downgrade

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price reached a new 52-week low during trading on Monday after Jefferies Financial Group downgraded the stock from a buy rating to a hold rating. Jefferies Financial Group now has a $8.00 price target on the stock. MoonLake Immunotherapeutics traded as low as $5.95 and last traded at $6.24, with a volume of 79166804 shares trading hands. The stock had previously closed at $61.99.

Several other research firms also recently issued reports on MLTX. Rothschild & Co Redburn started coverage on shares of MoonLake Immunotherapeutics in a report on Monday, July 28th. They set a “neutral” rating and a $65.00 price objective on the stock. Redburn Atlantic raised shares of MoonLake Immunotherapeutics to a “hold” rating in a report on Monday, July 28th. BTIG Research downgraded shares of MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating and set a $85.00 price objective for the company. in a research note on Monday. Stifel Nicolaus downgraded MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a research report on Monday. Finally, The Goldman Sachs Group raised their target price on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the stock 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $57.00.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Zimmer Partners LP acquired a new position in shares of MoonLake Immunotherapeutics in the 1st quarter valued at $957,000. Caxton Associates LLP purchased a new stake in shares of MoonLake Immunotherapeutics during the 1st quarter worth about $347,000. Octagon Capital Advisors LP acquired a new stake in shares of MoonLake Immunotherapeutics during the 1st quarter valued at about $11,565,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of MoonLake Immunotherapeutics by 17.9% during the 4th 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 acquiring an additional 6,422 shares during the period. Finally, Granahan Investment Management LLC increased its stake in shares of MoonLake Immunotherapeutics by 4.2% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Down 89.9%

The company has a market cap of $400.80 million, a price-to-earnings ratio of -2.24 and a beta of 1.27. The business has a fifty day moving average of $53.73 and a two-hundred day moving average of $46.01. The company has a current ratio of 16.65, a quick ratio of 16.65 and a debt-to-equity ratio of 0.21.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate 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, equities analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

About MoonLake Immunotherapeutics

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.