MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Buy Rating at HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $45.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 151.40% from the company’s previous close.

Several other research firms have also recently weighed in on MLTX. Zacks Research raised MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Wolfe Research raised MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and increased their price target for the company from $12.00 to $24.00 in a report on Monday, March 23rd. BTIG Research reissued a “buy” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a report on Monday, March 30th. Oppenheimer increased their price target on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Finally, Rothschild & Co Redburn raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and increased their price target for the company from $12.00 to $40.00 in a report on Thursday, March 19th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, MoonLake Immunotherapeutics presently has a consensus rating of “Hold” and a consensus price target of $23.85.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX opened at $17.90 on Monday. The business’s fifty day simple moving average is $17.74 and its two-hundred day simple moving average is $16.30. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -4.63 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.07). Research analysts anticipate that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current fiscal year.

Insider Transactions at MoonLake Immunotherapeutics

In related news, Director Bvf Partners L. P/Il sold 3,750,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total value of $62,962,500.00. Following the completion of the transaction, the director owned 1,039,238 shares in the company, valued at approximately $17,448,806.02. This trade represents a 78.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Da Silva Jorge Santos sold 98,127 shares of MoonLake Immunotherapeutics stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $18.41, for a total value of $1,806,518.07. Following the completion of the transaction, the chief executive officer owned 2,976,766 shares of the company’s stock, valued at approximately $54,802,262.06. This represents a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,900,000 shares of company stock valued at $65,714,663. Company insiders own 12.05% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $509,000. Rhenman & Partners Asset Management AB raised its holdings in shares of MoonLake Immunotherapeutics by 360.0% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 207,000 shares of the company’s stock valued at $1,484,000 after purchasing an additional 162,000 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of MoonLake Immunotherapeutics by 22,387.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 84,553 shares of the company’s stock valued at $606,000 after purchasing an additional 84,177 shares in the last quarter. Boxer Capital Management LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $1,792,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of MoonLake Immunotherapeutics by 342.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 174,161 shares of the company’s stock valued at $1,249,000 after purchasing an additional 134,764 shares in the last quarter. Institutional investors own 93.85% of the company’s stock.

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.