MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Consensus Rating of “Moderate Buy” from Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $74.46.

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, April 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 9th. Wolfe Research started coverage on shares of MoonLake Immunotherapeutics in a report on Thursday, February 15th. They issued an “outperform” rating and a $77.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $43.50 on Friday. MoonLake Immunotherapeutics has a 52-week low of $18.43 and a 52-week high of $64.98. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -57.24 and a beta of 1.20. The firm has a fifty day moving average of $51.27 and a 200-day moving average of $52.50.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.11. On average, sell-side analysts predict that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $62.43, for a total transaction of $624,300.00. Following the transaction, the insider now directly owns 130,071 shares in the company, valued at approximately $8,120,332.53. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Kristian Reich sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $62.43, for a total value of $624,300.00. Following the sale, the insider now directly owns 130,071 shares in the company, valued at approximately $8,120,332.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Da Silva Jorge Santos sold 4,740 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $55.89, for a total transaction of $264,918.60. Following the completion of the sale, the chief executive officer now owns 2,982,814 shares in the company, valued at $166,709,474.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 166,981 shares of company stock worth $9,490,674. Company insiders own 15.27% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

A number of hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. raised its position in shares of MoonLake Immunotherapeutics by 956.6% in the 2nd quarter. Osaic Holdings Inc. now owns 803 shares of the company’s stock valued at $41,000 after acquiring an additional 727 shares during the period. LPL Financial LLC raised its holdings in MoonLake Immunotherapeutics by 12.6% during the 3rd quarter. LPL Financial LLC now owns 6,862 shares of the company’s stock worth $391,000 after buying an additional 767 shares during the period. Quarry LP acquired a new stake in MoonLake Immunotherapeutics during the 4th quarter worth approximately $51,000. Tower Research Capital LLC TRC acquired a new stake in MoonLake Immunotherapeutics during the 2nd quarter worth approximately $47,000. Finally, Northern Trust Corp raised its holdings in MoonLake Immunotherapeutics by 25.5% during the 4th quarter. Northern Trust Corp now owns 7,202 shares of the company’s stock worth $435,000 after buying an additional 1,465 shares during the period. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It develops Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was incorporated in 2020 and is headquartered in Zug, Switzerland.