MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Rating Reaffirmed as “Buy” by HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report released on Monday, MarketBeat.com reports. They presently have a $50.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 356.62% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a research note on Sunday, September 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Wednesday, September 16th. BTIG Research restated a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Finally, Leerink Partners boosted their price target on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.50.

MoonLake Immunotherapeutics Stock Performance

Shares of MoonLake Immunotherapeutics stock opened at $10.95 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 12.56 and a quick ratio of 12.56. The firm has a market cap of $931.92 million, a price-to-earnings ratio of -2.85 and a beta of 1.08. The stock’s 50-day moving average is $14.74 and its 200-day moving average is $17.07. MoonLake Immunotherapeutics has a one year low of $8.18 and a one year high of $23.29.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.07. Equities analysts predict that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Silva Santos sold 68,289 shares of MoonLake Immunotherapeutics stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $20.02, for a total value 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 trade represents a 2.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the transaction, the insider owned 2,714,746 shares in the company, valued at $54,349,214.92. This represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 197,025 shares of company stock valued at $3,947,138. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Congress Asset Management Co. lifted its position in shares of MoonLake Immunotherapeutics by 24.1% in the third quarter. Congress Asset Management Co. now owns 223,883 shares of the company’s stock valued at $2,619,000 after buying an additional 43,435 shares during the last quarter. Engineers Gate Manager LP bought a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at $2,173,000. Integrated Wealth Concepts LLC bought a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at $39,000. Allworth Financial LP raised its stake in MoonLake Immunotherapeutics by 156.2% in the 2nd quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock valued at $33,000 after acquiring an additional 1,045 shares during the period. Finally, Arizona State Retirement System acquired a new stake in MoonLake Immunotherapeutics during the 2nd quarter valued at $233,000. Institutional investors own 93.85% of the company’s stock.

About MoonLake Immunotherapeutics

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.