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

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

Several other equities research analysts also recently commented on the stock. Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Oppenheimer started coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $62.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.45.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX opened at $48.94 on Tuesday. MoonLake Immunotherapeutics has a 52 week low of $35.11 and a 52 week high of $64.98. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of -65.25 and a beta of 1.26. The stock has a fifty day moving average of $49.26 and a 200-day moving average of $45.05.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same quarter in the previous year, the company posted ($0.23) earnings per share. As a group, equities analysts forecast that MoonLake Immunotherapeutics will post -1.54 EPS for the current year.

Insider Activity

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of MoonLake Immunotherapeutics stock in a transaction on Friday, October 4th. The shares were sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the sale, the director now directly owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in MoonLake Immunotherapeutics in the 1st quarter valued at $726,000. Westfield Capital Management Co. LP increased its position in shares of MoonLake Immunotherapeutics by 48.8% during the first quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock worth $45,753,000 after acquiring an additional 298,823 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the 1st quarter worth about $1,434,000. Vanguard Group Inc. raised its holdings in shares of MoonLake Immunotherapeutics by 25.3% in the 1st quarter. Vanguard Group Inc. now owns 92,298 shares of the company’s stock worth $4,636,000 after acquiring an additional 18,641 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in MoonLake Immunotherapeutics by 16.0% in the 2nd quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock valued at $7,681,000 after acquiring an additional 24,037 shares in the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.