MoonLake Immunotherapeutics (NASDAQ:MLTX) Sees Unusually-High Trading Volume – Should You Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX) saw unusually-high trading volume on Friday . Approximately 5,398,286 shares changed hands during mid-day trading, an increase of 323% from the previous session’s volume of 1,275,089 shares.The stock last traded at $7.92 and had previously closed at $7.46.

Analysts Set New Price Targets

MLTX has been the topic of several analyst reports. Guggenheim decreased their price objective on MoonLake Immunotherapeutics from $80.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday. HC Wainwright downgraded MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating in a report on Thursday. The Goldman Sachs Group restated a “neutral” rating and set a $7.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday. Rothschild & Co Redburn initiated coverage on MoonLake Immunotherapeutics in a report on Monday, July 28th. They set a “neutral” rating and a $65.00 price target on the stock. Finally, Stifel Nicolaus downgraded MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $13.00 price target on the stock. in a report on Monday, September 29th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.00.

MoonLake Immunotherapeutics Price Performance

The company has a current ratio of 16.65, a quick ratio of 16.65 and a debt-to-equity ratio of 0.21. The company has a market cap of $541.46 million, a PE ratio of -3.03 and a beta of 1.10. The firm has a 50 day moving average of $49.95 and a two-hundred day moving average of $45.08.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same period in the prior year, the firm posted ($0.39) earnings per share. Research analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In related news, major shareholder Bihua Chen sold 5,827 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $6.96, for a total value of $40,555.92. Following the sale, the insider owned 1,994,173 shares in the company, valued at $13,879,444.08. This represents a 0.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 12.02% of the stock is owned by insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLTX. Nuveen LLC bought a new position in MoonLake Immunotherapeutics in the 1st quarter valued at approximately $26,308,000. Vestal Point Capital LP lifted its position in MoonLake Immunotherapeutics by 175.0% in the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock valued at $25,960,000 after acquiring an additional 350,000 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in MoonLake Immunotherapeutics by 436.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 423,170 shares of the company’s stock valued at $19,974,000 after acquiring an additional 344,335 shares in the last quarter. Millennium Management LLC lifted its position in MoonLake Immunotherapeutics by 3,343.2% in the 1st quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock valued at $13,453,000 after acquiring an additional 334,320 shares in the last quarter. Finally, Octagon Capital Advisors LP bought a new position in MoonLake Immunotherapeutics in the 1st quarter valued at approximately $11,565,000. 93.85% of the stock is owned by institutional investors.

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.