MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $24.21 Average Target Price from Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX) has earned an average recommendation of “Hold” from the seventeen brokerages that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $24.2143.

A number of research analysts have recently commented on MLTX shares. Leerink Partners increased their price target on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday, July 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Friday, August 7th. BTIG Research reissued a “buy” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Finally, Needham & Company LLC raised their price objective on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 12th.

Insider Activity at MoonLake Immunotherapeutics

In other news, insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00. Following the completion of the transaction, the insider 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Da Silva Jorge Santos sold 68,289 shares of MoonLake Immunotherapeutics stock in a transaction on Friday, July 10th. The stock was sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the transaction, the chief executive officer owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This trade represents a 2.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 344,800 shares of company stock valued at $6,820,071. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently made changes to their positions in MLTX. Cormorant Asset Management LP lifted its stake in shares of MoonLake Immunotherapeutics by 118.4% in the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after acquiring an additional 2,361,260 shares during the period. Janus Henderson Group PLC increased its position in MoonLake Immunotherapeutics by 18,782.8% during 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 bought a new position in MoonLake Immunotherapeutics during the 4th quarter worth approximately $23,065,000. Weiss Asset Management LP lifted its position in shares of MoonLake Immunotherapeutics by 413.1% in the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock worth $31,843,000 after purchasing an additional 1,375,367 shares during the period. Finally, Vivo Capital LLC acquired a new position in shares of MoonLake Immunotherapeutics in the 4th quarter worth approximately $13,180,000. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Trading Up 3.9%

Shares of MoonLake Immunotherapeutics stock opened at $17.23 on Monday. The firm’s 50 day moving average is $18.98 and its 200 day moving average is $17.90. The firm has a market capitalization of $1.27 billion, a PE ratio of -4.49 and a beta of 1.06. 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.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.07. Equities research analysts forecast that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current fiscal year.

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.