MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Buy Rating at HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $45.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 151.40% from the stock’s current price.

Other research analysts have also issued research reports about the company. Zacks Research raised MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Oppenheimer upped their price target on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Royal Bank Of Canada upped their price target 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. Needham & Company LLC upped their price target on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of “Hold” and a consensus target price of $23.85.

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX opened at $17.90 on Monday. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average of $17.74 and a 200-day moving average of $16.30. The firm has a market cap of $1.32 billion, a PE ratio of -4.63 and a beta of 1.04.

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

Insider Buying and Selling

In related news, CEO Da Silva Jorge Santos sold 98,127 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $18.41, for a total value of $1,806,518.07. Following the sale, the chief executive officer owned 2,976,766 shares in the company, valued at $54,802,262.06. This represents a 3.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bvf Partners L. P/Il sold 3,750,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total value of $62,962,500.00. Following the completion of the sale, the director owned 1,039,238 shares in the company, valued at $17,448,806.02. The trade was a 78.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,900,000 shares of company stock worth $65,714,663 in the last quarter. Company insiders own 12.05% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter worth approximately $26,000. FNY Investment Advisers LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter worth approximately $28,000. Bank of America Corp DE grew its stake in shares of MoonLake Immunotherapeutics by 64.7% in the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock worth $32,000 after buying an additional 1,781 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of 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 buying an additional 3,166 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of MoonLake Immunotherapeutics by 45.4% in the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after buying an additional 1,069 shares during the last quarter. Hedge funds and other 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.