MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Rating) – Investment analysts at Wedbush boosted their Q1 2023 earnings per share (EPS) estimates for shares of MoonLake Immunotherapeutics in a research note issued on Monday, April 24th. Wedbush analyst A. Argyrides now anticipates that the company will post earnings of ($0.19) per share for the quarter, up from their previous estimate of ($0.33). Wedbush currently has a “Outperform” rating and a $33.00 target price on the stock. The consensus estimate for MoonLake Immunotherapeutics’ current full-year earnings is ($1.24) per share. Wedbush also issued estimates for MoonLake Immunotherapeutics’ Q2 2023 earnings at ($0.19) EPS, Q3 2023 earnings at ($0.20) EPS, Q4 2023 earnings at ($0.20) EPS, FY2023 earnings at ($0.78) EPS, FY2024 earnings at ($1.28) EPS, FY2025 earnings at ($1.51) EPS, FY2026 earnings at ($1.56) EPS and FY2027 earnings at ($2.04) EPS.
MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Rating) last issued its quarterly earnings data on Monday, March 20th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.02.
MoonLake Immunotherapeutics Stock Performance
Shares of MLTX opened at $20.78 on Wednesday. The stock has a 50 day simple moving average of $20.83 and a 200 day simple moving average of $13.96. MoonLake Immunotherapeutics has a 52-week low of $4.25 and a 52-week high of $26.24. The firm has a market capitalization of $1.10 billion, a PE ratio of -18.89 and a beta of 0.95.
Hedge Funds Weigh In On MoonLake Immunotherapeutics
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tekla Capital Management LLC acquired a new position in shares of MoonLake Immunotherapeutics in the third quarter worth approximately $2,388,000. Virtu Financial LLC bought a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter valued at approximately $151,000. Millennium Management LLC bought a new stake in shares of MoonLake Immunotherapeutics during the second quarter valued at approximately $147,000. Two Sigma Investments LP bought a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter valued at approximately $130,000. Finally, Renaissance Technologies LLC bought a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter valued at approximately $122,000. 76.13% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, major shareholder Bihua Chen purchased 588,589 shares of the business’s stock in a transaction dated Monday, March 20th. The shares were purchased at an average cost of $19.71 per share, with a total value of $11,601,089.19. Following the completion of the purchase, the insider now owns 3,438,589 shares of the company’s stock, valued at approximately $67,774,589.19. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
About MoonLake Immunotherapeutics
MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It is developing Sonelokimab, a novel investigational Nanobody therapy for the treatment of inflammation. The company is involved in conducting Phase II trials for hidradenitis suppurativa, psoriatic arthritis, ankylosing spondylitis, or radiographic axial spondyloarthritis.
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