MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded at HC Wainwright

HC Wainwright upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) from a neutral rating to a buy rating in a research report report published on Monday morning, MarketBeat Ratings reports. HC Wainwright currently has $30.00 target price on the stock.

MLTX has been the topic of several other reports. Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an “outperform” rating to an “underperform” rating in a research note on Tuesday, September 30th. Citigroup downgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 29th. BTIG Research downgraded shares of MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research note on Monday, September 29th. Oppenheimer set a $25.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, October 7th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $10.00 target price (down from $67.00) on shares of MoonLake Immunotherapeutics in a research note on Monday, September 29th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.17.

MoonLake Immunotherapeutics Price Performance

MLTX stock opened at $10.59 on Monday. The firm has a 50 day moving average of $29.76 and a 200-day moving average of $40.70. The company has a current ratio of 16.65, a quick ratio of 16.65 and a debt-to-equity ratio of 0.21. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75. The firm has a market capitalization of $680.20 million, a P/E ratio of -3.81 and a beta of 1.13.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.21). During the same quarter in the prior year, the company posted ($0.56) EPS. As a group, sell-side analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Insider Activity at MoonLake Immunotherapeutics

In related news, major shareholder Bihua Chen sold 5,827 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $6.96, for a total value of $40,555.92. Following the transaction, the insider owned 1,994,173 shares in the company, valued at $13,879,444.08. The trade was a 0.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 12.02% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently bought and sold shares of MLTX. Nuveen LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the 1st quarter valued at about $26,308,000. Vestal Point Capital LP increased its position in shares of MoonLake Immunotherapeutics by 175.0% during the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock valued at $25,960,000 after purchasing an additional 350,000 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of MoonLake Immunotherapeutics by 436.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 423,170 shares of the company’s stock valued at $19,974,000 after purchasing an additional 344,335 shares during the last quarter. Millennium Management LLC increased its position in shares of MoonLake Immunotherapeutics by 3,343.2% during the 1st quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock valued at $13,453,000 after purchasing an additional 334,320 shares during the last quarter. Finally, Octagon Capital Advisors LP purchased a new stake in shares of MoonLake Immunotherapeutics during the 1st quarter valued at about $11,565,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

About MoonLake Immunotherapeutics

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.