MoonLake Immunotherapeutics (NASDAQ: MLTX) stock jumped 6.05% on Friday to $42.74 against a previous-day closing price of $40.30. With 0.65 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.67 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $43.02 whereas the lowest price it dropped to was $40.31. The 52-week range on MLTX shows that it touched its highest point at $63.40 and its lowest point at $7.89 during that stretch. It currently has a 1-year price target of $65.89. Beta for the stock currently stands at 1.22.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MLTX was up-trending over the past week, with a rise of 13.52%, but this was down by -24.09% over a month. Three-month performance dropped to -24.77% while six-month performance rose 55.14%. The stock gained 353.72% in the past year, while it has gained 307.05% so far this year. A look at the trailing 12-month EPS for MLTX yields -0.94 with Next year EPS estimates of -1.40. For the next quarter, that number is -0.25. This implies an EPS growth rate of 43.32% for this year and -44.76% for next year.
Float and Shares Shorts:
At present, 53.49 million MLTX shares are outstanding with a float of 39.41 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.64 million, which was 12.42% higher than short shares on Sep 28, 2023. In addition to Dr. Jorge Santos da Silva as the firm’s Co-Founder, CEO & Director, Dr. Kristian Reich serves as its Co-Founder & Chief Scientific Officer.
Institutional Ownership:
Through their ownership of 66.09% of MLTX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 86.17% of MLTX, in contrast to 82.97% held by mutual funds. Shares owned by individuals account for 22.80%. As the largest shareholder in MLTX with 40.67% of the stake, BVF Partners LP holds 21,751,284 shares worth 21,751,284. A second-largest stockholder of MLTX, Cormorant Asset Management LP, holds 8,494,151 shares, controlling over 15.88% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in MLTX, holding 3,340,304 shares or 6.25% stake. With a 1.89% stake in MLTX, the T Rowe Price Health Sciences Fund is the largest stakeholder. A total of 1,008,167 shares are owned by the mutual fund manager. The FCP Medical – BioHealth, which owns about 1.49% of MLTX stock, is the second-largest Mutual Fund holder. It holds 798,745 shares valued at 41.38 million. Polar Capital Funds Plc – Healthc holds 1.29% of the stake in MLTX, owning 687,930 shares worth 35.64 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MLTX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MLTX analysts setting a high price target of $77.00 and a low target of $40.00, the average target price over the next 12 months is $65.89. Based on these targets, MLTX could surge 80.16% to reach the target high and fall by -6.41% to reach the target low. Reaching the average price target will result in a growth of 54.16% from current levels.
Summary of Insider Activity:
Insiders traded MLTX stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 293,212 shares were bought while 0 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 2,370,312 while 0 shares were sold.
