MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading 14.9% Higher – What’s Next?

MoonLake Immunotherapeutics (NASDAQ:MLTX) shares rose 14.9% during mid-day trading on Monday . The stock traded as high as $22.30 and last traded at $22.0750. 563,487 shares traded hands during 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

MLTX has been the subject of a number of recent research reports. Zacks Research upgraded MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Oppenheimer lifted their price target on shares of MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Needham & Company LLC upped their price objective on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada increased their target price on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Finally, Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their price target for the company from $12.00 to $40.00 in a report on Thursday, March 19th. Nine equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.85.

MoonLake Immunotherapeutics Trading Up 14.9%

The stock has a 50-day moving average of $17.96 and a 200 day moving average of $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. The stock has a market cap of $1.63 billion, a PE ratio of -5.71 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). As a group, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 50,000 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $19.43, for a total transaction of $971,500.00. Following the sale, the insider directly owned 2,824,551 shares of the company’s stock, valued at approximately $54,881,025.93. This trade represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 MoonLake Immunotherapeutics stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $18.23, for a total value of $945,644.79. Following the transaction, the chief executive officer owned 2,924,893 shares of the company’s stock, valued at $53,320,799.39. The trade was a 1.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 4,000,000 shares of company stock valued at $67,630,663. 12.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Cormorant Asset Management LP grew its stake in shares of MoonLake Immunotherapeutics by 118.4% during the 4th quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after purchasing an additional 2,361,260 shares during the period. Janus Henderson Group PLC lifted its stake in shares of MoonLake Immunotherapeutics by 18,782.8% in the 4th quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock valued at $27,657,000 after purchasing an additional 2,084,888 shares during the period. Logos Global Management LP purchased a new stake in MoonLake Immunotherapeutics during the fourth quarter worth $23,065,000. Weiss Asset Management LP boosted its holdings in MoonLake Immunotherapeutics by 413.1% during the first quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock worth $31,843,000 after buying an additional 1,375,367 shares in the last quarter. Finally, Vivo Capital LLC acquired a new stake in MoonLake Immunotherapeutics during the fourth quarter valued at $13,180,000. 93.85% of the stock is owned by institutional investors and hedge funds.

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.