MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $25.29 Consensus PT from Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Rating) have been given an average rating of “Buy” by the twelve research firms that are presently covering the company, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $25.29.

A number of research analysts recently issued reports on MLTX shares. 22nd Century Group reaffirmed a “reiterates” rating on shares of MoonLake Immunotherapeutics in a report on Thursday, May 4th. Guggenheim started coverage on MoonLake Immunotherapeutics in a report on Monday, May 1st. They set a “buy” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday, March 6th. Wedbush started coverage on MoonLake Immunotherapeutics in a report on Wednesday, March 22nd. They set an “outperform” rating and a $33.00 target price on the stock. Finally, BTIG Research assumed coverage on MoonLake Immunotherapeutics in a report on Thursday, March 9th. They set a “buy” rating and a $36.00 target price on the stock.

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, major shareholder Bihua Chen acquired 588,589 shares of the firm’s stock in a transaction on Monday, March 20th. The stock was purchased at an average cost of $19.71 per share, for a total transaction of $11,601,089.19. Following the transaction, the insider now owns 3,438,589 shares of the company’s stock, valued at approximately $67,774,589.19. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.27% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors have recently made changes to their positions in MLTX. Goldman Sachs Group Inc. acquired a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at about $62,000. Bank of America Corp DE acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter worth approximately $83,000. Geode Capital Management LLC acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter worth approximately $120,000. Renaissance Technologies LLC acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter worth approximately $122,000. Finally, Two Sigma Investments LP acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter worth approximately $130,000. 76.13% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX opened at $28.54 on Tuesday. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -24.82 and a beta of 0.95. MoonLake Immunotherapeutics has a one year low of $4.48 and a one year high of $29.59. The stock’s fifty day moving average is $23.24 and its 200-day moving average is $16.50.

MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Rating) last issued its quarterly earnings results on Monday, March 20th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.02. Analysts forecast that MoonLake Immunotherapeutics will post -1 EPS for the current fiscal year.

MoonLake Immunotherapeutics Company Profile

(Get Rating)

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It is developing Sonelokimab, a novel investigational Nanobody therapy for the treatment of inflammation. The company is involved in conducting Phase II trials for hidradenitis suppurativa, psoriatic arthritis, ankylosing spondylitis, or radiographic axial spondyloarthritis.