20 Best Biotech Stocks Under $20 to Buy Now

3. MoonLake Immunotherapeutics (NASDAQ:MLTX)

Number of Hedge Fund Holders: 35

Stock Price: $16.25

MoonLake Immunotherapeutics (NASDAQ:MLTX) is the next stock on our list.

TheFly reported on January 14 that Goldman Sachs downgraded MLTX to Sell from Neutral and set a price target of $10, up from $8. The firm noted that sonelokimab’s advancement into Phase 3 for palmoplantar pustulosis provides an additional opportunity, but it continues to view significant approvability risk in hidradenitis suppurativa. Given VELA-2’s failure to meet its primary endpoint, Goldman Sachs does not believe the FDA’s procedural guidance meaningfully reduces approval uncertainty.

Separately, earlier this month, on January 9, H.C. Wainwright raised the price target on MoonLake Immunotherapeutics (NASDAQ:MLTX) to $32 from $26 and maintained a Buy rating. The firm noted that the outcome of the FDA Type B meeting provides a defined path toward regulatory registration.

MoonLake Immunotherapeutics (NASDAQ:MLTX) is a clinical‑stage biopharmaceutical company that develops revolutionary Nanobody therapies to treat inflammatory skin and joint diseases. Its primary asset, sonelokimab, targets IL‑17A and IL‑17F to reduce inflammation in disorders like hidradenitis suppurativa and psoriatic arthritis.