MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Consensus Rating of “Moderate Buy” from Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX) 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 stock opened at $42.67 on Tuesday. The company has a 50 day moving average price of $51.97 and a 200-day moving average price of $46.50. MoonLake Immunotherapeutics has a fifty-two week low of $7.89 and a fifty-two week high of $63.40. The company has a market capitalization of $2.66 billion, a PE ratio of -44.92 and a beta of 1.49.

MoonLake Immunotherapeutics (NASDAQ:MLTX) 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.

Insider Activity

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.