MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Rating) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 845,400 shares, an increase of 38.1% from the November 15th total of 612,200 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average daily volume of 44,700 shares, the days-to-cover ratio is presently 18.9 days.
MoonLake Immunotherapeutics Trading Up 0.9 %
Shares of NASDAQ:MLTX traded up $0.08 during trading on Friday, hitting $9.40. The stock had a trading volume of 21,839 shares, compared to its average volume of 85,866. The stock has a 50-day simple moving average of $8.77 and a two-hundred day simple moving average of $7.47. MoonLake Immunotherapeutics has a 12-month low of $4.25 and a 12-month high of $15.19.
Institutional Trading of MoonLake Immunotherapeutics
Several institutional investors have recently bought and sold shares of the business. TD Asset Management Inc. acquired a new stake in shares of MoonLake Immunotherapeutics in the second quarter worth approximately $152,000. Meridian Wealth Management LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the second quarter worth approximately $142,000. Cowen AND Company LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the second quarter worth approximately $85,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of MoonLake Immunotherapeutics in the second quarter worth approximately $4,439,000. Finally, Balyasny Asset Management LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the third quarter worth approximately $795,000.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on MLTX shares. SVB Leerink initiated coverage on MoonLake Immunotherapeutics in a research note on Thursday, August 25th. They set an “outperform” rating and a $17.00 price target for the company. Jefferies Financial Group started coverage on MoonLake Immunotherapeutics in a report on Friday, November 11th. They set a “buy” rating and a $16.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of “Buy” and a consensus price target of $20.33.
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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Read More: Short Interest in MoonLake Immunotherapeutics (NASDAQ:MLTX) Rises By 38.1%