MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Rating)'s stock had its "buy" rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $28.00 price objective on the stock. HC Wainwright's price target points to a potential upside of 129.51% from the company's previous close.

Other analysts have also recently issued reports about the company. Lifesci Capital restated an "outperform" rating on shares of MoonLake Immunotherapeutics in a research report on Wednesday, December 21st. Jefferies Financial Group started coverage on MoonLake Immunotherapeutics in a research note on Friday, November 11th. They issued a "buy" rating and a $16.00 price target on the stock. Finally, Bryan, Garnier & Co started coverage on MoonLake Immunotherapeutics in a research note on Thursday. They issued a "buy" rating and a $22.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $20.75.

MoonLake Immunotherapeutics Stock Up 1.2 %

MLTX traded up $0.15 on Friday, hitting $12.20. The company had a trading volume of 39,284 shares, compared to its average volume of 104,382. The company's fifty day moving average price is $10.71 and its 200 day moving average price is $8.78. MoonLake Immunotherapeutics has a 1-year low of $4.25 and a 1-year high of $15.19.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of large investors have recently made changes to their positions in the company. TD Asset Management Inc. bought a new position in MoonLake Immunotherapeutics during the 2nd quarter worth $152,000. Cowen AND Company LLC acquired a new position in MoonLake Immunotherapeutics during the 2nd quarter worth about $85,000. Meridian Wealth Management LLC acquired a new position in MoonLake Immunotherapeutics during the 2nd quarter worth about $142,000. Alps Advisors Inc. acquired a new position in MoonLake Immunotherapeutics during the 2nd quarter worth about $164,000. Finally, UBS Group AG acquired a new position in MoonLake Immunotherapeutics during the 2nd quarter worth about $387,000. Institutional investors own 76.13% of the company's stock.

About MoonLake Immunotherapeutics

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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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