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

MoonLake Immunotherapeutics (NASDAQ:MLTX) has been given a consensus recommendation of “Hold” by the seventeen analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $24.5714.

A number of brokerages recently commented on MLTX. Leerink Partners increased their price objective on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. HC Wainwright lifted their target price on shares of MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Needham & Company LLC upped 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. BTIG Research reiterated a “buy” rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Finally, Weiss Ratings raised shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st.

Insiders Place Their Bets

In other news, CEO Silva Santos sold 68,289 shares of the business’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $20.02, for a total value of $1,367,145.78. Following the completion of the transaction, the chief executive officer directly owned 2,774,893 shares of the company’s stock, valued at $55,553,357.86. The trade was a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the company’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $20.02, for a total value of $1,001,000.00. Following the completion of the sale, the insider owned 2,714,746 shares in the company, valued at $54,349,214.92. This represents a 1.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 344,800 shares of company stock worth $6,820,071. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MLTX. Kestra Advisory Services LLC acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at approximately $26,000. Bank of America Corp DE boosted its position in MoonLake Immunotherapeutics by 64.7% during the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock worth $32,000 after acquiring an additional 1,781 shares during the last quarter. Allworth Financial LP boosted its position in MoonLake Immunotherapeutics by 156.2% during the second quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock worth $33,000 after acquiring an additional 1,045 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in MoonLake Immunotherapeutics by 115.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock worth $42,000 after acquiring an additional 3,166 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in MoonLake Immunotherapeutics by 45.4% in the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after acquiring an additional 1,069 shares during the last quarter. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Stock Down 0.5%

MLTX opened at $14.94 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 12.56 and a current ratio of 12.56. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -3.89 and a beta of 1.04. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The business’s fifty day moving average is $17.61 and its two-hundred day moving average is $17.86.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.84) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.07. Analysts anticipate that MoonLake Immunotherapeutics will post -3.34 EPS for the current fiscal year.

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.