Citadel Advisors LLC recently announced the acquisition of new stake in MoonLake Immunotherapeutics (NASDAQ:MLTX). The institutional investor has increased its shareholding in the Healthcare company by 6.98% to 2.87 million shares with purchase of 0.19 million shares. This fresh investment now brings its stake to 7.34% valued currently at $61.2 million. In addition, Polar Capital LLP raised its holdings by 0.88 million to 0.88 million shares.
With over 2.03 million MoonLake Immunotherapeutics (MLTX) shares trading Tuesday and a closing price of $27.35 on the day, the dollar volume was approximately $55.55 million. The shares have shown a positive half year performance of 222.52% and its price on 05/23/23 gained nearly 0.96%. Currently, there are 39.06M common shares owned by the public and among those 36.83M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for MLTX have a consensus price objective of $34.67. The analysts have set the share’s price value over the next 12 months at a high of $51.00 and a low of $28.00. The average price target is 21.11% above its recent price level and an upside to the estimated low will see the stock gain 2.32% over that period. But an upside of 46.37% will see the stock hit the forecast high price target while median target price for the stock is $33.00.
Insiders at the company have transacted a total of 4 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 4 of these insider trades were purchases, accounting for 827,100 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in MoonLake Immunotherapeutics are Polar Capital Funds Plc – Biotech, T Rowe Price Health Sciences Fund, and Federated Hermes Kaufmann Fund. Polar Capital Funds Plc – Biotech owns 0.75 million shares of the company’s stock, all valued at over $15.97 million. T Rowe Price Health Sciences Fund sold 46149.0 shares to see its total holdings shrink to 0.63 million shares valued at over $13.47 million and representing 1.62% of the shares outstanding. Federated Hermes Kaufmann Fund bought 0.42 million shares to bring its total holdings to over 0.42 million shares at a value of $8.88 million. Federated Hermes Kaufmann Fund now owns shares totaling to 1.07% of the shares outstanding.
Shares of MoonLake Immunotherapeutics (NASDAQ: MLTX) opened at $27.10, up $0.01 from a prior closing price of $27.09. However, the script later moved the day high at 27.83, up 0.96%. The company’s stock has a 5-day price change of 1.45% and 47.60% over the past three months. MLTX shares are trading 160.48% year to date (YTD), with the 12-month market performance up to 462.76% higher. It has a 12-month low price of $4.48 and touched a high of $29.59 over the same period. MLTX has an average intraday trading volume of 335.73K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.68%, 19.73%, and 100.99% respectively.
Institutional ownership of MoonLake Immunotherapeutics (NASDAQ: MLTX) shares accounts for 94.60% of the company’s 39.06M shares outstanding. Mutual fund holders own 20.55%, while other institutional holders and individual stakeholders account for 79.04% and 10.43% respectively.
It has a market capitalization of $1.47B. The earnings-per-share (ttm) stands at -$1.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.49% over the week and 8.76% over the month.
Analysts forecast that MoonLake Immunotherapeutics (MLTX) will achieve an EPS of -$0.23 for the current quarter, -$0.26 for the next quarter and -$1.44 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.34 while analysts give the company a high EPS estimate of -$0.1. Comparatively, EPS for the current quarter was -$0.34 a year ago. Earnings per share for the fiscal year are expected to decrease by -17.20%, and -42.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate MoonLake Immunotherapeutics (MLTX) as a “Strong Buy” at a consensus score of 1.50. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 0 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
