MoonLake Immunotherapeutics’ (MLTX) “Buy” Rating Reaffirmed at HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $100.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 104.79% from the company’s current price.

A number of other research analysts have also weighed in on MLTX. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Wolfe Research cut MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Finally, Wedbush restated an “outperform” rating and set a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $79.00.

MoonLake Immunotherapeutics Stock Down 7.0 %

Shares of MLTX stock opened at $48.83 on Thursday. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -37.85 and a beta of 1.28. MoonLake Immunotherapeutics has a 52 week low of $37.55 and a 52 week high of $64.98. The firm has a 50 day moving average of $49.87 and a 200-day moving average of $45.71.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period in the prior year, the business earned ($0.18) earnings per share. Analysts anticipate that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

Insider Activity

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the sale, the director now directly owns 171,980 shares of the company’s stock, valued at $9,238,765.60. The trade was a 49.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 12.02% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in MoonLake Immunotherapeutics by 35.8% during the 3rd quarter. FMR LLC now owns 4,950,224 shares of the company’s stock valued at $249,590,000 after acquiring an additional 1,306,215 shares during the period. Logos Global Management LP purchased a new stake in shares of MoonLake Immunotherapeutics during the second quarter valued at $32,978,000. Marshall Wace LLP grew its holdings in shares of MoonLake Immunotherapeutics by 115.0% in the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock worth $48,307,000 after purchasing an additional 587,684 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of MoonLake Immunotherapeutics by 48.8% in the first quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock worth $45,753,000 after purchasing an additional 298,823 shares during the last quarter. Finally, Avoro Capital Advisors LLC increased its stake in MoonLake Immunotherapeutics by 7.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock worth $121,797,000 after buying an additional 190,000 shares during the period. 93.85% of the stock is 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.