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

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have earned an average rating of “Hold” from the sixteen research firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $23.8462.

Several equities analysts recently commented on MLTX shares. BTIG Research reissued a “buy” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and upped their target price for the company from $12.00 to $24.00 in a research note on Monday, March 23rd. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price target on shares of MoonLake Immunotherapeutics in a report on Monday, June 8th. Finally, Needham & Company LLC raised their price target on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 12th.

MoonLake Immunotherapeutics Price Performance

MoonLake Immunotherapeutics stock opened at $19.99 on Friday. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. The firm has a fifty day moving average of $18.13 and a 200-day moving average of $16.86. The firm has a market capitalization of $1.47 billion, a P/E ratio of -5.17 and a beta of 1.04. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). As a group, analysts predict that MoonLake Immunotherapeutics will post -3.71 EPS for the current year.

Insider Activity at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00. Following the completion of the sale, the insider directly owned 2,824,551 shares of the company’s stock, valued at approximately $54,881,025.93. This trade represents a 1.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bvf Partners L. P/Il sold 3,750,000 shares of the firm’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $16.79, for a total transaction of $62,962,500.00. Following the sale, the director directly owned 1,039,238 shares of the company’s stock, valued at approximately $17,448,806.02. The trade was a 78.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 4,000,000 shares of company stock valued at $67,630,663. Corporate insiders own 12.02% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Large investors have recently added to or reduced their stakes in the company. Rhenman & Partners Asset Management AB increased its stake in shares of MoonLake Immunotherapeutics by 360.0% in the third quarter. Rhenman & Partners Asset Management AB now owns 207,000 shares of the company’s stock worth $1,484,000 after buying an additional 162,000 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of MoonLake Immunotherapeutics by 22,387.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 84,553 shares of the company’s stock worth $606,000 after buying an additional 84,177 shares during the last quarter. Boxer Capital Management LLC bought a new stake in shares of MoonLake Immunotherapeutics in the third quarter worth $1,792,000. UBS Group AG increased its stake in shares of MoonLake Immunotherapeutics by 183.4% in the fourth quarter. UBS Group AG now owns 239,020 shares of the company’s stock worth $3,150,000 after buying an additional 154,673 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of MoonLake Immunotherapeutics by 342.1% in the third quarter. JPMorgan Chase & Co. now owns 174,161 shares of the company’s stock worth $1,249,000 after buying an additional 134,764 shares during the last quarter. 93.85% of the stock is 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.