MoonLake Immunotherapeutics (NASDAQ:MLTX) Raised to “Sell” at Wall Street Zen

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

MLTX has been the subject of a number of other research reports. BTIG Research reiterated a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Wednesday. Leerink Partners upped their price target on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings raised shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Finally, HC Wainwright lifted their price objective on shares of MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of “Hold” and an average price target of $24.57.

MoonLake Immunotherapeutics Price Performance

Shares of MoonLake Immunotherapeutics stock opened at $12.39 on Friday. The company has a fifty day moving average price of $16.55 and a 200 day moving average price of $17.55. The company has a current ratio of 12.56, a quick ratio of 12.56 and a debt-to-equity ratio of 0.23. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -3.23 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.07. Equities research analysts forecast that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current fiscal year.

Insider Transactions at MoonLake Immunotherapeutics

In other news, insider Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the sale, the insider directly owned 2,714,746 shares of the company’s stock, valued at approximately $54,349,214.92. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Silva Santos sold 68,289 shares of the business’s stock in a transaction dated 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 owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This trade represents a 2.40% decrease in their position. 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. Over the last ninety days, insiders have sold 244,800 shares of company stock worth $4,904,071. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Weiss Asset Management LP increased 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 buying an additional 1,375,367 shares during the last quarter. Candriam S.C.A. boosted its stake in MoonLake Immunotherapeutics by 509.0% during the 1st quarter. Candriam S.C.A. now owns 818,126 shares of the company’s stock valued at $15,250,000 after acquiring an additional 683,797 shares during the last quarter. UBS Group AG boosted its stake in MoonLake Immunotherapeutics by 183.4% during the 4th quarter. UBS Group AG now owns 239,020 shares of the company’s stock valued at $3,150,000 after acquiring an additional 154,673 shares during the last quarter. Janus Henderson Group PLC grew its holdings in MoonLake Immunotherapeutics by 64.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock worth $64,304,000 after acquiring an additional 1,355,640 shares in the last quarter. Finally, Exome Asset Management LLC acquired a new position in MoonLake Immunotherapeutics during the 1st quarter worth $4,015,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for inflammatory and immunologic diseases. The company’s approach is based on Nanobody technology, which is designed to create targeted therapies with potential advantages in tissue penetration and biological activity.

MoonLake’s lead product candidate is sonelokimab, a trivalent Nanobody designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.