MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Gap Up – Time to Buy?

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) gapped up before the market opened on Monday . The stock had previously closed at $37.62, but opened at $38.85. MoonLake Immunotherapeutics shares last traded at $38.00, with a volume of 41,060 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MLTX shares. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Wolfe Research raised shares of MoonLake Immunotherapeutics from a “peer perform” rating to an “outperform” rating and set a $61.00 target price on the stock in a research report on Monday. The Goldman Sachs Group reduced their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $80.00 price objective (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Finally, Royal Bank of Canada began coverage on MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of “Buy” and an average target price of $78.71.

MoonLake Immunotherapeutics Stock Up 3.0%

The company has a 50 day simple moving average of $38.40 and a 200 day simple moving average of $44.70. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -29.93 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.13. During the same quarter in the previous year, the firm earned ($0.22) EPS. On average, research analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of MoonLake Immunotherapeutics by 28.1% during the fourth quarter. FMR LLC now owns 6,341,391 shares of the company’s stock worth $343,386,000 after purchasing an additional 1,391,167 shares during the last quarter. Paradigm Biocapital Advisors LP raised its position in shares of MoonLake Immunotherapeutics by 90.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock valued at $95,965,000 after acquiring an additional 840,731 shares in the last quarter. Nuveen LLC bought a new position in MoonLake Immunotherapeutics during the first quarter worth $26,308,000. Polar Capital Holdings Plc boosted its holdings in MoonLake Immunotherapeutics by 120.0% in the fourth quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company’s stock worth $59,565,000 after purchasing an additional 600,000 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of MoonLake Immunotherapeutics by 12.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock worth $181,059,000 after purchasing an additional 363,394 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.