MoonLake Immunotherapeutics (NASDAQ:MLTX) Given New $20.00 Price Target at Needham & Company LLC

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price target reduced by Needham & Company LLC from $66.00 to $20.00 in a report published on Tuesday morning, Marketbeat reports. They currently have a buy rating on the stock.

A number of other analysts have also recently issued reports on MLTX. Redburn Atlantic upgraded MoonLake Immunotherapeutics to a “hold” rating in a research report on Monday, July 28th. Rothschild & Co Redburn initiated coverage on MoonLake Immunotherapeutics in a research report on Monday, July 28th. They set a “neutral” rating and a $65.00 price objective on the stock. Royal Bank Of Canada restated a “sector perform” rating and set a $10.00 price objective (down from $67.00) on shares of MoonLake Immunotherapeutics in a research report on Monday. Citigroup cut MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, Jefferies Financial Group cut MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, MoonLake Immunotherapeutics presently has an average rating of “Hold” and a consensus price target of $43.82.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX opened at $7.17 on Tuesday. The company has a quick ratio of 16.65, a current ratio of 16.65 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $52.80 and its two-hundred day moving average is $45.74. The company has a market cap of $460.53 million, a P/E ratio of -2.58 and a beta of 1.27. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results 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 period in the prior year, the company earned ($0.39) earnings per share. On average, equities analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Institutional Trading of MoonLake Immunotherapeutics

A number of large investors have recently bought and sold shares of the stock. Deutsche Bank AG grew its position in MoonLake Immunotherapeutics by 59.8% in the fourth quarter. Deutsche Bank AG now owns 903 shares of the company’s stock valued at $49,000 after acquiring an additional 338 shares during the period. Geode Capital Management LLC grew its position in MoonLake Immunotherapeutics by 0.9% in the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock valued at $2,809,000 after acquiring an additional 559 shares during the period. Squarepoint Ops LLC grew its position in MoonLake Immunotherapeutics by 3.7% in the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock valued at $829,000 after acquiring an additional 629 shares during the period. PNC Financial Services Group Inc. grew its position in MoonLake Immunotherapeutics by 8.2% in the first quarter. PNC Financial Services Group Inc. now owns 9,200 shares of the company’s stock valued at $359,000 after acquiring an additional 700 shares during the period. Finally, MPM Bioimpact LLC grew its position in MoonLake Immunotherapeutics by 0.3% in the first quarter. MPM Bioimpact LLC now owns 316,049 shares of the company’s stock valued at $12,348,000 after acquiring an additional 819 shares during the period. 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.