Why MoonLake Immunotherapeutics Stock Shot Up 41.1% on Tuesday

MoonLake Immunotherapeutics (NASDAQ: MLTX), a clinical-stage biotechnology company that specializes in therapies for inflammatory skin and joint diseases, saw its shares jump 41.1% on Tuesday.

The stock closed at $6.38 on Friday, then opened at $7.55 on Tuesday after the Memorial Day weekend, before rising to a high of $9 just after the opening bell. The stock has a 52-week high of $15.19 and a low of $4.25, and is down more than 25% this year.

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Source Fool.com