The Goldman Sachs Group Issues Pessimistic Forecast for MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price target reduced by The Goldman Sachs Group from $82.00 to $73.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 72.90% from the stock’s previous close.

A number of other research firms have also issued reports on MLTX. HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and set a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Finally, Needham & Company LLC increased their price target on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has a consensus rating of “Buy” and a consensus price target of $83.20.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX traded down $0.15 during trading hours on Thursday, hitting $42.22. The company’s stock had a trading volume of 133,858 shares, compared to its average volume of 430,539. The business has a 50 day simple moving average of $46.90 and a two-hundred day simple moving average of $48.99. MoonLake Immunotherapeutics has a 52-week low of $37.55 and a 52-week high of $58.26. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -32.88 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). Research analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of MLTX. Congress Asset Management Co. bought a new position in shares of MoonLake Immunotherapeutics in the third quarter worth approximately $3,360,000. US Bancorp DE bought a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter worth $44,000. Rice Hall James & Associates LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the 3rd quarter valued at $3,805,000. Harbor Capital Advisors Inc. lifted its holdings in shares of 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 acquiring an additional 38,779 shares during the last quarter. Finally, AlphaCentric Advisors LLC purchased a new position in MoonLake Immunotherapeutics in the third quarter worth $706,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

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.