HC Wainwright Reaffirms Buy Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued on Tuesday, Benzinga reports. They presently have a $100.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 135.68% from the company’s previous close.

MLTX has been the topic of several other research reports. William Blair reiterated an “outperform” rating and set a $92.00 price target on shares of MoonLake Immunotherapeutics in a report on Monday, February 26th. Wolfe Research began coverage on MoonLake Immunotherapeutics in a research report on Thursday, February 15th. They set an “outperform” rating and a $77.00 price objective for the company. The Goldman Sachs Group began coverage on MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $74.46.

MoonLake Immunotherapeutics Trading Down 1.9 %

MLTX opened at $42.43 on Tuesday. The firm has a market capitalization of $2.71 billion, a PE ratio of -55.51 and a beta of 1.20. MoonLake Immunotherapeutics has a 12-month low of $19.80 and a 12-month high of $64.98. The firm has a 50 day moving average of $48.98 and a two-hundred day moving average of $51.81.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.11. As a group, analysts predict that MoonLake Immunotherapeutics will post -1.11 EPS for the current fiscal year.

Insider Activity

In other news, insider Kristian Reich sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $62.43, for a total value of $624,300.00. Following the completion of the transaction, the insider now owns 130,071 shares in the company, valued at $8,120,332.53. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Kristian Reich sold 10,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $62.43, for a total transaction of $624,300.00. Following the completion of the sale, the insider now owns 130,071 shares in the company, valued at approximately $8,120,332.53. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Da Silva Jorge Santos sold 62,810 shares of MoonLake Immunotherapeutics stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $55.00, for a total value of $3,454,550.00. Following the sale, the chief executive officer now owns 3,043,619 shares of the company’s stock, valued at approximately $167,399,045. The disclosure for this sale can be found here. Insiders sold a total of 166,981 shares of company stock worth $9,490,674 over the last 90 days. 15.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently modified their holdings of MLTX. Quarry LP acquired a new position in MoonLake Immunotherapeutics during the 4th quarter worth approximately $51,000. Barclays PLC acquired a new position in MoonLake Immunotherapeutics during the 3rd quarter worth $189,000. Stratos Wealth Partners LTD. acquired a new position in MoonLake Immunotherapeutics during the 4th quarter worth $202,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter valued at $217,000. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the third quarter valued at $246,000. 93.85% of the stock is owned by institutional investors and hedge funds.

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.