MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $65.90 Consensus PT from Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $67.70.

A number of research analysts have commented on MLTX shares. Needham & Company LLC restated a “buy” rating and issued a $76.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, October 16th. Barclays lifted their price objective on shares of MoonLake Immunotherapeutics from $41.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 12th. Stifel Nicolaus started coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 2nd. They issued a “buy” rating and a $74.00 price objective on the stock. Wedbush lifted their price objective on shares of MoonLake Immunotherapeutics from $86.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, November 16th. Finally, Guggenheim lifted their price objective on shares of MoonLake Immunotherapeutics from $70.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th.

Insider Transactions at MoonLake Immunotherapeutics

In related news, major shareholder Bihua Chen bought 74,911 shares of the stock in a transaction on Monday, October 2nd. The shares were bought at an average cost of $57.37 per share, for a total transaction of $4,297,644.07. Following the completion of the transaction, the insider now owns 8,217,011 shares of the company’s stock, valued at approximately $471,409,921.07. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its position in MoonLake Immunotherapeutics by 956.6% during the second quarter. Osaic Holdings Inc. now owns 803 shares of the company’s stock worth $41,000 after buying an additional 727 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of MoonLake Immunotherapeutics in the second quarter valued at about $47,000. Goldman Sachs Group Inc. purchased a new stake in shares of MoonLake Immunotherapeutics in the second quarter valued at about $62,000. Bank of America Corp DE purchased a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter valued at about $83,000. Finally, Geode Capital Management LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter valued at about $120,000.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $42.67 on Tuesday. MoonLake Immunotherapeutics has a 1-year low of $7.89 and a 1-year high of $63.40. The stock has a market cap of $2.66 billion, a PE ratio of -44.92 and a beta of 1.49. The firm has a fifty day moving average price of $51.97 and a 200 day moving average price of $46.50.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Tuesday, November 14th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. As a group, equities analysts expect that MoonLake Immunotherapeutics will post -0.95 EPS for the current fiscal year.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It is developing Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases. The company is involved in conducting Phase II trials for hidradenitis suppurativa, psoriatic arthritis, ankylosing spondylitis, or axial spondyloarthritis.