MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Up 14.9% – Still a Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price shot up 14.9% on Monday . The company traded as high as $22.30 and last traded at $22.0750. Approximately 563,487 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 1,493,285 shares. The stock had previously closed at $19.21.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MLTX. Oppenheimer increased their target price on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $12.00 to $40.00 in a research report on Thursday, March 19th. Needham & Company LLC increased their price objective on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. BTIG Research reiterated a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Finally, Zacks Research upgraded shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of “Hold” and a consensus price target of $23.85.

MoonLake Immunotherapeutics Stock Up 14.9%

The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -5.71 and a beta of 1.04. The business’s 50-day moving average is $17.96 and its two-hundred day moving average is $16.66. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). Equities analysts anticipate that MoonLake Immunotherapeutics will post -3.71 EPS for the current year.

Insider Activity at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $19.43, for a total transaction of $971,500.00. Following the transaction, the insider owned 2,824,551 shares in the company, valued at approximately $54,881,025.93. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Da Silva Jorge Santos sold 51,873 shares of the business’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $18.23, for a total value of $945,644.79. Following the transaction, the chief executive officer directly owned 2,924,893 shares in the company, valued at $53,320,799.39. This trade represents a 1.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 4,000,000 shares of company stock valued at $67,630,663. 12.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new position in MoonLake Immunotherapeutics in the 4th quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of MoonLake Immunotherapeutics by 221.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock worth $53,000 after buying an additional 1,974 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of MoonLake Immunotherapeutics by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after buying an additional 1,069 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at approximately $47,000. Finally, FNY Investment Advisers LLC acquired a new position in MoonLake Immunotherapeutics in the third quarter valued at approximately $28,000. 93.85% of the stock is owned by hedge funds and other 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.