MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Down 12.8% – Here’s Why

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price fell 12.8% during trading on Wednesday . The company traded as low as $16.20 and last traded at $16.2520. 848,195 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 1,949,061 shares. The stock had previously closed at $18.64.

Analysts Set New Price Targets

MLTX has been the topic of a number of research reports. Needham & Company LLC increased their target price on shares of MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. HC Wainwright lifted their price target on shares of MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Wolfe Research raised shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and boosted their price objective for the company from $12.00 to $24.00 in a research report on Monday, March 23rd. The Goldman Sachs Group lowered shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $8.00 to $10.00 in a research note on Wednesday, January 14th. Finally, Royal Bank Of Canada raised their target price on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, MoonLake Immunotherapeutics currently has an average rating of “Hold” and an average price target of $23.08.

MoonLake Immunotherapeutics Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 9.27 and a current ratio of 9.27. The stock has a 50 day moving average of $16.91 and a 200 day moving average of $16.89. The stock has a market capitalization of $1.21 billion, a P/E ratio of -4.80 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, February 25th. The company reported ($0.92) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.92). During the same period in the prior year, the firm earned ($0.72) earnings per share. Equities analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MLTX. Hsbc Holdings PLC bought a new position in MoonLake Immunotherapeutics in the 4th quarter worth about $147,000. Virtu Financial LLC bought a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter valued at approximately $166,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter valued at approximately $47,000. Vident Advisory LLC acquired a new position in shares of MoonLake Immunotherapeutics during the fourth quarter worth approximately $204,000. Finally, Virtus Investment Advisers LLC boosted its position in shares of MoonLake Immunotherapeutics by 595.8% during the fourth quarter. Virtus Investment Advisers LLC now owns 17,987 shares of the company’s stock worth $237,000 after buying an additional 15,402 shares during the period. 93.85% of the stock is owned by institutional investors and hedge funds.

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.