MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives “Buy” Rating from HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They currently have a $100.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 136.24% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Wolfe Research began coverage on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 15th. They issued an “outperform” rating and a $77.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. The Goldman Sachs Group assumed coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price objective on the stock. William Blair reaffirmed an “outperform” rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $66.00 price target on shares of MoonLake Immunotherapeutics in a research report on Wednesday. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.46.

MoonLake Immunotherapeutics Stock Down 3.0 %

NASDAQ:MLTX traded down $1.33 on Wednesday, hitting $42.33. The stock had a trading volume of 92,883 shares, compared to its average volume of 439,594. MoonLake Immunotherapeutics has a 1-year low of $24.31 and a 1-year high of $64.98. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -55.51 and a beta of 1.29. The company has a fifty day moving average price of $46.31 and a two-hundred day moving average price of $50.83.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Tuesday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). As a group, analysts anticipate that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current year.

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 4,740 shares of the company’s stock in a transaction dated 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 $166,709,474.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 4,740 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $55.89, for a total value of $264,918.60. Following the completion of the sale, the chief executive officer now directly owns 2,982,814 shares of the company’s stock, valued at approximately $166,709,474.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kristian Reich sold 10,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $62.43, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 166,981 shares of company stock worth $9,490,674 over the last 90 days. Company insiders own 15.27% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Quarry LP purchased a new position in MoonLake Immunotherapeutics during the fourth quarter worth approximately $51,000. Barclays PLC acquired a new position in MoonLake Immunotherapeutics in the third quarter valued at $189,000. Stratos Wealth Partners LTD. purchased a new stake in MoonLake Immunotherapeutics during the fourth quarter valued at about $202,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in MoonLake Immunotherapeutics during the fourth quarter worth about $217,000. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter worth about $246,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

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.