MoonLake Immunotherapeutics (NASDAQ:MLTX) Earns Buy Rating from HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Monday, MarketBeat Ratings reports. They currently have a $50.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 363.18% from the company’s previous close.

Several other analysts have also issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Wednesday, September 16th. Wall Street Zen downgraded shares of MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, September 27th. Leerink Partners upped their target price on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings raised shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $28.50.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX traded down $0.16 during mid-day trading on Monday, hitting $10.80. 928,886 shares of the company traded hands, compared to its average volume of 1,501,214. The stock’s fifty day moving average price is $14.74 and its 200-day moving average price is $17.07. MoonLake Immunotherapeutics has a one year low of $8.80 and a one year high of $23.29. The company has a quick ratio of 12.56, a current ratio of 12.56 and a debt-to-equity ratio of 0.23. The firm has a market cap of $918.73 million, a price-to-earnings ratio of -2.81 and a beta of 1.08.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.07. Research analysts anticipate that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current fiscal year.

Insider Activity

In other MoonLake Immunotherapeutics news, CEO Silva Santos sold 68,289 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the completion of the transaction, the chief executive officer owned 2,774,893 shares of the company’s stock, valued at $55,553,357.86. This represents a 2.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the transaction, the insider directly owned 2,714,746 shares of the company’s stock, valued at $54,349,214.92. This trade represents a 1.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 197,025 shares of company stock valued at $3,947,138 in the last three months. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently modified their holdings of MLTX. Congress Asset Management Co. increased its position in shares of MoonLake Immunotherapeutics by 24.1% during the third quarter. Congress Asset Management Co. now owns 223,883 shares of the company’s stock worth $2,619,000 after acquiring an additional 43,435 shares during the period. Engineers Gate Manager LP purchased a new position in shares of MoonLake Immunotherapeutics during the second quarter worth approximately $2,173,000. Integrated Wealth Concepts LLC purchased a new position in shares of MoonLake Immunotherapeutics during the second quarter worth approximately $39,000. Allworth Financial LP increased its position in shares of MoonLake Immunotherapeutics by 156.2% during the second quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock worth $33,000 after acquiring an additional 1,045 shares during the period. Finally, Arizona State Retirement System purchased a new position in shares of MoonLake Immunotherapeutics during the second quarter worth approximately $233,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for inflammatory and immunologic diseases. The company is headquartered in Zug, Switzerland, and its ordinary shares trade on the Nasdaq under the symbol MLTX.

MoonLake’s primary product candidate is sonelokimab, a novel Nanobody-based inhibitor designed to selectively target interleukin-17A and interleukin-17F, two cytokines involved in inflammation. The company is evaluating sonelokimab in conditions including hidradenitis suppurativa, psoriatic arthritis and axial spondyloarthritis, with the goal of addressing significant unmet needs in chronic inflammatory disease.

MoonLake was established to advance sonelokimab and related immunology programs and has developed its business around a Nanobody-based drug-development platform.