Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Rating) fell 6.5% on Monday . The stock traded as low as $10.50 and last traded at $10.50. 5,786 shares were traded during mid-day trading, a decline of 90% from the average session volume of 57,892 shares. The stock had previously closed at $11.23.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MLTX. Jefferies Financial Group began coverage on MoonLake Immunotherapeutics in a report on Friday, November 11th. They issued a "buy" rating and a $16.00 price objective for the company. Lifesci Capital restated an "outperform" rating on shares of MoonLake Immunotherapeutics in a research note on Wednesday, December 21st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, MoonLake Immunotherapeutics has a consensus rating of "Buy" and an average price target of $20.33.

MoonLake Immunotherapeutics Price Performance

The company has a fifty day simple moving average of $10.26 and a two-hundred day simple moving average of $8.52.

Institutional Trading of MoonLake Immunotherapeutics

Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new stake in shares of MoonLake Immunotherapeutics during the second quarter valued at $62,000. Cowen AND Company LLC acquired a new stake in MoonLake Immunotherapeutics in the 2nd quarter worth about $85,000. Meridian Wealth Management LLC acquired a new stake in MoonLake Immunotherapeutics in the 2nd quarter worth about $142,000. Millennium Management LLC acquired a new stake in MoonLake Immunotherapeutics in the 2nd quarter worth about $147,000. Finally, TD Asset Management Inc. acquired a new stake in MoonLake Immunotherapeutics in the 2nd quarter worth about $152,000. Institutional investors and hedge funds own 76.13% of the company's stock.

MoonLake Immunotherapeutics Company Profile

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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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