HC Wainwright Cuts MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target to $26.00

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price target reduced by research analysts at HC Wainwright from $30.00 to $26.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 100.00% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of MoonLake Immunotherapeutics in a research report on Wednesday, October 8th. Citigroup cut MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 29th. Redburn Atlantic upgraded MoonLake Immunotherapeutics to a “hold” rating in a report on Monday, July 28th. Stifel Nicolaus lowered MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a research note on Monday, September 29th. Finally, Guggenheim decreased their target price on MoonLake Immunotherapeutics from $80.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, September 30th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, MoonLake Immunotherapeutics presently has a consensus rating of “Hold” and an average price target of $30.25.

MoonLake Immunotherapeutics Stock Down 4.0%

MLTX opened at $13.00 on Friday. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. The company has a market capitalization of $834.99 million, a P/E ratio of -3.92 and a beta of 1.13. 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 firm’s fifty day moving average price is $19.85 and its two-hundred day moving average price is $38.55.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Wednesday, November 5th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.21). During the same quarter last year, the business posted ($0.56) EPS. On average, analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Insider Activity

In other news, major shareholder Bihua Chen sold 5,827 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $6.96, for a total transaction of $40,555.92. Following the sale, the insider owned 1,994,173 shares of the company’s stock, valued at $13,879,444.08. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MLTX. Bank of America Corp DE boosted its holdings in shares of MoonLake Immunotherapeutics by 64.7% in the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after buying an additional 1,781 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in MoonLake Immunotherapeutics by 115.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock worth $42,000 after purchasing an additional 3,166 shares during the period. Covestor Ltd bought a new position in MoonLake Immunotherapeutics during the 3rd quarter worth about $46,000. BNP Paribas Financial Markets increased its holdings in MoonLake Immunotherapeutics by 18.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock worth $52,000 after purchasing an additional 1,158 shares in the last quarter. Finally, Quarry LP raised its stake in shares of MoonLake Immunotherapeutics by 400.1% in the 3rd quarter. Quarry LP now owns 9,001 shares of the company’s stock valued at $65,000 after purchasing an additional 7,201 shares during the period. 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.