MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $84.29 Consensus Target Price from Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX) has been given an average rating of “Buy” by the eight analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $84.29.

MLTX has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $62.00 to $82.00 in a research report on Friday, January 17th. Wedbush restated an “outperform” rating and issued a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Friday, January 10th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MLTX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of MoonLake Immunotherapeutics by 96.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,814 shares of the company’s stock worth $1,806,000 after acquiring an additional 17,580 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $741,000. Barclays PLC boosted its position in shares of MoonLake Immunotherapeutics by 1,269.2% in the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock valued at $283,000 after purchasing an additional 5,229 shares during the period. State Street Corp increased its stake in MoonLake Immunotherapeutics by 96.2% in the 3rd quarter. State Street Corp now owns 87,637 shares of the company’s stock worth $4,419,000 after purchasing an additional 42,980 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in MoonLake Immunotherapeutics by 100.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company’s stock worth $3,906,000 after buying an additional 38,779 shares during the period. Institutional investors and hedge funds own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX opened at $44.27 on Thursday. The business’s fifty day moving average price is $49.13 and its 200 day moving average price is $49.02. MoonLake Immunotherapeutics has a 12-month low of $37.55 and a 12-month high of $64.00.

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.