MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Average Rating of “Hold” from Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX) has earned a consensus rating of “Hold” from the sixteen research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $23.8462.

A number of research analysts recently weighed in on MLTX shares. Zacks Research raised MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Rothschild & Co Redburn raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $12.00 to $40.00 in a research note on Thursday, March 19th. Wolfe Research raised MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and upped their price target for the stock from $12.00 to $24.00 in a research note on Monday, March 23rd. HC Wainwright upped their price target on MoonLake Immunotherapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, BTIG Research reaffirmed a “buy” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday, March 30th.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ:MLTX opened at $19.18 on Wednesday. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -4.96 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60. The business’s 50-day moving average is $17.60 and its 200-day moving average is $16.10. MoonLake Immunotherapeutics has a 1 year low of $5.95 and a 1 year high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). Equities research analysts predict that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Da Silva Jorge Santos sold 98,127 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $18.41, for a total value of $1,806,518.07. Following the completion of the sale, the chief executive officer directly owned 2,976,766 shares of the company’s stock, valued at $54,802,262.06. This represents a 3.19% 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, Director Bvf Partners L. P/Il sold 3,750,000 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total value of $62,962,500.00. Following the completion of the sale, the director directly owned 1,039,238 shares of the company’s stock, valued at approximately $17,448,806.02. This trade represents a 78.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,900,000 shares of company stock worth $65,714,663. 12.05% of the stock is owned by company insiders.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cormorant Asset Management LP raised its stake in shares of MoonLake Immunotherapeutics by 118.4% in the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after purchasing an additional 2,361,260 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of MoonLake Immunotherapeutics by 64.7% in the first quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock worth $64,304,000 after purchasing an additional 1,355,640 shares during the last quarter. Logos Global Management LP purchased a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth approximately $23,065,000. Weiss Asset Management LP raised its stake in shares of MoonLake Immunotherapeutics by 413.1% in the first quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock worth $31,843,000 after purchasing an additional 1,375,367 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of MoonLake Immunotherapeutics by 17.8% in the second quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock worth $53,715,000 after purchasing an additional 171,932 shares during the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.