Chardan Capital began coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) in a research report issued to clients and investors on Friday, Briefing.com reports. The firm set a “buy” rating and a $57.00 price target on the stock. Chardan Capital‘s price target would indicate a potential upside of 427.78% from the company’s current price.
A number of other research firms also recently commented on MLTX. Wall Street Zen downgraded MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, September 27th. Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, October 5th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Wednesday, September 16th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.09.
Check Out Our Latest Analysis on MLTX
MoonLake Immunotherapeutics Trading Down 6.6%
NASDAQ:MLTX opened at $10.80 on Friday. The company has a market capitalization of $919.16 million, a P/E ratio of -2.94 and a beta of 1.14. The company has a current ratio of 12.56, a quick ratio of 12.56 and a debt-to-equity ratio of 0.23. MoonLake Immunotherapeutics has a 12 month low of $9.46 and a 12 month high of $23.29. The firm has a fifty day simple moving average of $12.19 and a 200-day simple moving average of $16.35.
MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.10). On average, equities research analysts anticipate that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current year.
Institutional Trading of MoonLake Immunotherapeutics
A number of hedge funds have recently added to or reduced their stakes in MLTX. Congress Asset Management Co. grew its position in MoonLake Immunotherapeutics by 24.1% during the third quarter. Congress Asset Management Co. now owns 223,883 shares of the company’s stock valued at $2,619,000 after buying an additional 43,435 shares during the period. Engineers Gate Manager LP purchased a new position in MoonLake Immunotherapeutics in the second quarter valued at $2,173,000. Integrated Wealth Concepts LLC acquired a new position in shares of MoonLake Immunotherapeutics in the second quarter worth about $39,000. Allworth Financial LP raised its position in shares of MoonLake Immunotherapeutics by 156.2% in the second quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock worth $33,000 after acquiring an additional 1,045 shares during the period. Finally, Arizona State Retirement System purchased a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter worth about $233,000. 93.85% of the stock is owned by hedge funds and other institutional investors.
MoonLake Immunotherapeutics Company Profile
MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for inflammatory and immunological diseases. The company is advancing medicines designed to address conditions in which the immune system contributes to chronic inflammation and tissue damage.
Its lead product candidate is sonelokimab, an investigational Nanobody-based therapy designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.
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