HC Wainwright Reiterates Buy Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They currently have a $100.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 143.78% from the company’s current price.

A number of other research analysts also recently commented on MLTX. Wedbush reissued an “outperform” rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. The Goldman Sachs Group assumed coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 price objective for the company. William Blair reaffirmed an “outperform” rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 9th. Finally, Wolfe Research initiated coverage on shares of MoonLake Immunotherapeutics in a report on Thursday, February 15th. They issued an “outperform” rating and a $77.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, MoonLake Immunotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $74.46.

MoonLake Immunotherapeutics Trading Down 2.8 %

Shares of MLTX stock opened at $41.02 on Tuesday. MoonLake Immunotherapeutics has a 1 year low of $19.80 and a 1 year high of $64.98. The firm’s fifty day moving average price is $49.84 and its two-hundred day moving average price is $52.08. The firm has a market capitalization of $2.62 billion, a P/E ratio of -53.97 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.11. As a group, equities research analysts forecast that MoonLake Immunotherapeutics will post -1.11 EPS for the current fiscal year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other news, insider Kristian Reich sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $62.43, for a total value of $624,300.00. Following the sale, the insider now directly owns 130,071 shares of the company’s stock, valued at approximately $8,120,332.53. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Kristian Reich sold 10,000 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $62.43, for a total transaction of $624,300.00. Following the transaction, the insider now directly owns 130,071 shares of the company’s stock, valued at $8,120,332.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Da Silva Jorge Santos sold 20,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $60.18, for a total transaction of $1,203,600.00. Following the transaction, the chief executive officer now owns 3,147,554 shares in the company, valued at approximately $189,419,799.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 166,981 shares of company stock worth $9,490,674. 15.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in shares of MoonLake Immunotherapeutics by 50.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock valued at $371,000 after buying an additional 2,067 shares during the last quarter. Perceptive Advisors LLC acquired a new position in shares of MoonLake Immunotherapeutics during the fourth quarter valued at about $4,976,000. Quarry LP acquired a new position in shares of MoonLake Immunotherapeutics during the fourth quarter valued at about $51,000. Price T Rowe Associates Inc. MD lifted its position in shares of MoonLake Immunotherapeutics by 9.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock valued at $139,744,000 after purchasing an additional 196,144 shares in the last quarter. Finally, Parkman Healthcare Partners LLC lifted its position in shares of MoonLake Immunotherapeutics by 53.9% during the fourth quarter. Parkman Healthcare Partners LLC now owns 82,009 shares of the company’s stock valued at $4,953,000 after purchasing an additional 28,716 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Company Profile

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.