MoonLake Immunotherapeutics’ (MLTX) Buy Rating Reaffirmed at HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $100.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 136.24% from the company’s previous close.

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

MoonLake Immunotherapeutics Trading Down 3.0 %

Shares of MLTX stock traded down $1.33 during mid-day trading on Wednesday, reaching $42.33. The stock had a trading volume of 92,883 shares, compared to its average volume of 439,594. The stock’s 50-day moving average price is $46.31 and its two-hundred day moving average price is $50.83. The firm has a market capitalization of $2.70 billion, a PE ratio of -55.51 and a beta of 1.29. MoonLake Immunotherapeutics has a 52-week low of $24.31 and a 52-week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). On average, equities research analysts forecast that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current 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 dated Friday, February 16th. The shares were sold at an average price of $60.15, for a total transaction of $601,500.00. Following the sale, the insider now directly owns 110,071 shares in the company, valued at approximately $6,620,770.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 62,810 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total value of $3,454,550.00. Following the completion of the sale, the chief executive officer now directly owns 3,043,619 shares in the company, valued at $167,399,045. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kristian Reich sold 10,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $60.15, for a total value of $601,500.00. Following the completion of the sale, the insider now owns 110,071 shares of the company’s stock, valued at $6,620,770.65. The disclosure for this sale can be found here. Insiders sold 166,981 shares of company stock worth $9,490,674 over the last 90 days. 15.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MLTX. Quarry LP acquired a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter worth $51,000. Barclays PLC acquired a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth about $189,000. Stratos Wealth Partners LTD. purchased a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at about $202,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $217,000. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of MoonLake Immunotherapeutics in the third quarter worth about $246,000. Institutional investors and hedge funds 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.