BTIG Research Reiterates “Buy” Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a research note issued to investors on Monday,Benzinga reports. They presently have a $24.00 target price on the stock. BTIG Research’s target price indicates a potential upside of 52.42% from the stock’s current price.

Several other brokerages have also recently commented on MLTX. Zacks Research cut shares of MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. UBS Group set a $24.00 price objective on MoonLake Immunotherapeutics in a report on Friday, January 9th. Citigroup lowered MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group cut MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and upped their price target for the company from $8.00 to $10.00 in a research note on Wednesday, January 14th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 6th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.77.

MoonLake Immunotherapeutics Trading Up 1.5%

Shares of NASDAQ MLTX traded up $0.24 during mid-day trading on Monday, hitting $15.75. The company’s stock had a trading volume of 281,987 shares, compared to its average volume of 3,071,448. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The company’s fifty day simple moving average is $14.73 and its 200-day simple moving average is $26.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 8.50 and a quick ratio of 8.50. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -4.75 and a beta of 1.20.

Insider Activity

In related news, CEO Da Silva Jorge Santos sold 70,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $14.49, for a total value of $1,014,300.00. Following the completion of the transaction, the chief executive officer directly owned 2,878,577 shares of the company’s stock, valued at approximately $41,710,580.73. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristian Reich sold 72,908 shares of MoonLake Immunotherapeutics stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $14.43, for a total transaction of $1,052,062.44. The disclosure for this sale is available in the SEC filing. Insiders have sold 402,908 shares of company stock worth $5,987,162 in the last quarter. 12.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC bought a new position in MoonLake Immunotherapeutics during the 3rd quarter worth $6,922,000. Jefferies Financial Group Inc. raised its position in shares of MoonLake Immunotherapeutics by 1,900.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 500,000 shares of the company’s stock valued at $6,590,000 after buying an additional 475,000 shares in the last quarter. Two Sigma Investments LP bought a new stake in MoonLake Immunotherapeutics during the third quarter worth $3,257,000. Vestal Point Capital LP lifted its position in shares of MoonLake Immunotherapeutics by 175.0% during the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock worth $25,960,000 after buying an additional 350,000 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of MoonLake Immunotherapeutics by 436.8% in the second quarter. Balyasny Asset Management L.P. now owns 423,170 shares of the company’s stock worth $19,974,000 after acquiring an additional 344,335 shares during the last quarter. 93.85% of the stock is owned by institutional investors.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immunomodulatory therapies for autoimmune and inflammatory diseases. The company leverages a proprietary platform designed to selectively modulate key immune cell populations, aiming to restore immune balance and reduce tissue damage with targeted biologic candidates.

Its lead asset, MLTX101, is a recombinant immune cell modulator in clinical development for myositis, including inclusion body myositis and dermatomyositis.