MoonLake Immunotherapeutics’ (MLTX) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report sent to investors on Monday, Benzinga reports. Cantor Fitzgerald also issued estimates for MoonLake Immunotherapeutics’ FY2024 earnings at ($1.37) EPS.

Several other research analysts have also recently issued reports on MLTX. Needham & Company LLC reaffirmed a buy rating and set a $62.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. HC Wainwright reiterated a buy rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Oppenheimer assumed coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They set an outperform rating and a $104.00 price target on the stock. Finally, Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an outperform rating to a peer perform rating in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $80.45.

MoonLake Immunotherapeutics Trading Down 6.4 %

MLTX opened at $50.81 on Monday. MoonLake Immunotherapeutics has a 1-year low of $35.11 and a 1-year high of $64.98. The company has a market cap of $3.25 billion, a price-to-earnings ratio of -67.75 and a beta of 1.26. The company’s fifty day moving average price is $47.13 and its two-hundred day moving average price is $44.90.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same period in the prior year, the business posted ($0.23) EPS. As a group, equities analysts forecast that MoonLake Immunotherapeutics will post -1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC purchased a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $4,976,000. Avoro Capital Advisors LLC boosted its position in MoonLake Immunotherapeutics by 29.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock worth $155,806,000 after purchasing an additional 580,001 shares during the period. SG Americas Securities LLC bought a new stake in shares of MoonLake Immunotherapeutics in the first quarter valued at approximately $726,000. Westfield Capital Management Co. LP lifted its stake in shares of MoonLake Immunotherapeutics by 48.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock valued at $45,753,000 after buying an additional 298,823 shares in the last quarter. Finally, Finepoint Capital LP boosted its holdings in MoonLake Immunotherapeutics by 170.1% in the 4th quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock worth $54,049,000 after buying an additional 563,584 shares during the period. 93.85% of the stock is 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.