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

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued to clients and investors on Monday, MarketBeat.com reports. They presently have a $45.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 128.66% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Wolfe Research raised shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and boosted their target price for the company from $12.00 to $24.00 in a research note on Monday, March 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 12th. Leerink Partners lifted their price objective on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Needham & Company LLC boosted their price objective on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, BTIG Research restated a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, MoonLake Immunotherapeutics has a consensus rating of “Hold” and an average target price of $24.21.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX stock opened at $19.68 on Monday. The stock has a 50 day moving average price of $18.87 and a 200 day moving average price of $17.46. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60. The firm has a market capitalization of $1.45 billion, a P/E ratio of -5.09 and a beta of 1.04.

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

Insiders Place Their Bets

In other news, CEO Da Silva Jorge Santos sold 68,289 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the transaction, the chief executive officer owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total value of $971,500.00. Following the completion of the sale, the insider owned 2,824,551 shares of the company’s stock, valued at $54,881,025.93. The trade was a 1.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 250,000 shares of company stock worth $4,919,138 in the last three months. Corporate insiders own 12.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in shares of MoonLake Immunotherapeutics by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after purchasing an additional 559 shares during the period. Squarepoint Ops LLC boosted its stake in shares of MoonLake Immunotherapeutics by 3.7% during the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock valued at $829,000 after purchasing an additional 629 shares in the last quarter. Axiom Investors LLC DE increased its holdings in MoonLake Immunotherapeutics by 3.2% during the fourth quarter. Axiom Investors LLC DE now owns 25,998 shares of the company’s stock valued at $343,000 after buying an additional 818 shares during the period. Russell Investments Group Ltd. increased its holdings in MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after buying an additional 1,069 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in MoonLake Immunotherapeutics by 18.9% in the third quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock worth $52,000 after buying an additional 1,158 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

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.