MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a $100.00 target price on the stock.

Several other equities research analysts have also recently commented on the company. The Goldman Sachs Group initiated coverage on MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They set a neutral rating and a $62.00 target price for the company. Wedbush restated an outperform rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. Wolfe Research began coverage on MoonLake Immunotherapeutics in a report on Thursday, February 15th. They issued an outperform rating and a $77.00 target price on the stock. William Blair restated an outperform rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday, February 26th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of Moderate Buy and a consensus target price of $74.46.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $42.49 on Tuesday. MoonLake Immunotherapeutics has a fifty-two week low of $20.29 and a fifty-two week high of $64.98. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -55.91 and a beta of 1.20. The stock has a fifty day moving average price of $48.23 and a 200-day moving average price of $51.68.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.11. Research analysts predict that MoonLake Immunotherapeutics will post -1.11 EPS for the current fiscal year.

Insider Activity at MoonLake Immunotherapeutics

In other news, insider Kristian Reich sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $62.43, for a total transaction of $624,300.00. Following the transaction, the insider now directly owns 130,071 shares of the company’s stock, valued at $8,120,332.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Da Silva Jorge Santos sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $60.18, for a total value of $1,203,600.00. Following the sale, the chief executive officer now directly owns 3,147,554 shares of the company’s stock, valued at $189,419,799.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristian Reich sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $62.43, for a total value of $624,300.00. Following the completion of the sale, the insider now directly owns 130,071 shares in the company, valued at $8,120,332.53. The disclosure for this sale can be found here. Insiders have sold a total of 166,981 shares of company stock valued at $9,490,674 over the last 90 days. 15.27% of the stock is owned by insiders.

Institutional Trading of MoonLake Immunotherapeutics

Several large investors have recently modified their holdings of the business. FMR LLC grew its stake in shares of MoonLake Immunotherapeutics by 0.6% in the third quarter. FMR LLC now owns 3,397,253 shares of the company’s stock worth $193,643,000 after purchasing an additional 19,508 shares during the last quarter. Avoro Capital Advisors LLC lifted its holdings in MoonLake Immunotherapeutics by 29.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock worth $155,806,000 after buying an additional 580,001 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in MoonLake Immunotherapeutics by 9.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock worth $139,744,000 after buying an additional 196,144 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in MoonLake Immunotherapeutics by 42.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,952,703 shares of the company’s stock worth $111,304,000 after buying an additional 580,375 shares during the period. Finally, Finepoint Capital LP lifted its holdings in MoonLake Immunotherapeutics by 170.1% in the fourth quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock worth $54,049,000 after buying an additional 563,584 shares during the period. 93.85% of the stock is owned by institutional investors.

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.