Needham & Company LLC Issues Positive Forecast for MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price target raised by analysts at Needham & Company LLC from $20.00 to $25.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 33.83% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of MoonLake Immunotherapeutics from $10.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday. Oppenheimer reaffirmed an “outperform” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday. Zacks Research lowered MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. The Goldman Sachs Group downgraded MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and lifted their target price for the company from $8.00 to $10.00 in a research report on Wednesday, January 14th. Finally, UBS Group set a $24.00 price target on MoonLake Immunotherapeutics in a report on Friday, January 9th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.77.

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX opened at $18.68 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 8.50 and a current ratio of 8.50. The stock’s fifty day moving average is $15.32 and its two-hundred day moving average is $23.85. The firm has a market capitalization of $1.20 billion, a P/E ratio of -5.63 and a beta of 1.20. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Wednesday, February 25th. The company reported ($0.97) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.97). During the same period last year, the company earned ($0.72) earnings per share. On average, research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Insider Transactions at MoonLake Immunotherapeutics

In related news, CEO Da Silva Jorge Santos sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $15.08, for a total value of $1,960,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,948,577 shares of the company’s stock, valued at $44,464,541.16. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kristian Reich sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $15.08, for a total value of $1,960,400.00. Following the completion of the transaction, the insider directly owned 72,908 shares of the company’s stock, valued at $1,099,452.64. This trade represents a 64.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 402,908 shares of company stock valued at $5,987,162. Corporate insiders own 12.05% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $166,000. T. Rowe Price Investment Management Inc. purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter valued at $47,000. Vident Advisory LLC purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter valued at $204,000. Virtus Investment Advisers LLC boosted its stake in MoonLake Immunotherapeutics by 595.8% in the fourth quarter. Virtus Investment Advisers LLC now owns 17,987 shares of the company’s stock valued at $237,000 after acquiring an additional 15,402 shares in the last quarter. Finally, Susquehanna Portfolio Strategies LLC purchased a new position in shares of MoonLake Immunotherapeutics during the fourth quarter worth about $3,347,000. 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.