MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) has been assigned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $67.70.
A number of brokerages recently commented on MLTX. Stifel Nicolaus began coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 2nd. They issued a “buy” rating and a $74.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $76.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, October 16th. Bryan, Garnier & Co downgraded shares of MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, September 14th. Guggenheim boosted their price objective on shares of MoonLake Immunotherapeutics from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $75.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, September 12th.
MoonLake Immunotherapeutics Stock Performance
MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) last posted its quarterly earnings results on Tuesday, November 14th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.05. On average, analysts forecast that MoonLake Immunotherapeutics will post -0.95 earnings per share for the current year.
In other news, major shareholder Bihua Chen bought 67,814 shares of the stock in a transaction dated Wednesday, October 4th. The shares were acquired at an average cost of $57.32 per share, with a total value of $3,887,098.48. Following the purchase, the insider now directly owns 8,435,312 shares in the company, valued at approximately $483,512,083.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 15.27% of the company’s stock.
Institutional Investors Weigh In On MoonLake Immunotherapeutics
Several hedge funds have recently modified their holdings of MLTX. UBS Group AG purchased a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter worth about $387,000. FMR LLC purchased a new position in MoonLake Immunotherapeutics in the 2nd quarter valued at about $6,264,000. Millennium Management LLC purchased a new position in MoonLake Immunotherapeutics in the 2nd quarter valued at about $147,000. Citadel Advisors LLC purchased a new position in MoonLake Immunotherapeutics in the 2nd quarter valued at about $13,916,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in MoonLake Immunotherapeutics in the 2nd quarter valued at about $4,439,000.
MoonLake Immunotherapeutics Company Profile
MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It is developing Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases. The company is involved in conducting Phase II trials for hidradenitis suppurativa, psoriatic arthritis, ankylosing spondylitis, or axial spondyloarthritis.
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