MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Rating Reaffirmed by HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued on Tuesday, Benzinga reports. They currently have a $100.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 143.78% from the company’s previous close.

Several other analysts have also weighed in on MLTX. William Blair reissued an “outperform” rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, February 26th. The Goldman Sachs Group assumed coverage on MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 target price for the company. Wedbush restated an “outperform” rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. Needham & Company LLC restated a “buy” rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 9th. Finally, Wolfe Research assumed coverage on MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They issued an “outperform” rating and a $77.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.46.

MoonLake Immunotherapeutics Price Performance

NASDAQ:MLTX opened at $41.02 on Tuesday. The business’s 50-day moving average is $49.84 and its two-hundred day moving average is $52.08. MoonLake Immunotherapeutics has a 12 month low of $19.80 and a 12 month high of $64.98. The firm has a market capitalization of $2.62 billion, a PE ratio of -53.97 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.11. Equities analysts anticipate that MoonLake Immunotherapeutics will post -1.11 EPS for the current year.

Insider Activity

In other news, CEO Da Silva Jorge Santos sold 4,740 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 2,982,814 shares in the company, valued at approximately $166,709,474.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Kristian Reich sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 130,071 shares in the company, valued at $8,120,332.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Da Silva Jorge Santos sold 4,740 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was 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 of the company’s stock, valued at $166,709,474.46. The disclosure for this sale can be found here. Insiders have sold a total of 166,981 shares of company stock worth $9,490,674 in the last ninety days. Corporate insiders own 15.27% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of large investors have recently bought and sold shares of the business. Quarry LP bought a new stake in MoonLake Immunotherapeutics in the fourth quarter worth $51,000. PNC Financial Services Group Inc. boosted its holdings in MoonLake Immunotherapeutics by 50.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock worth $371,000 after purchasing an additional 2,067 shares in the last quarter. Barclays PLC bought a new stake in MoonLake Immunotherapeutics in the third quarter worth $189,000. Stratos Wealth Partners LTD. bought a new stake in MoonLake Immunotherapeutics during the fourth quarter valued at about $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in MoonLake Immunotherapeutics during the fourth quarter valued at about $217,000. 93.85% of the stock is currently owned by institutional investors.

About MoonLake Immunotherapeutics

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.