MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have received an average rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $79.00.

MLTX has been the topic of a number of analyst reports. Wolfe Research downgraded MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, November 14th. Wedbush restated an “outperform” rating and issued a $73.00 price target (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th.

MoonLake Immunotherapeutics Price Performance

MLTX stock opened at $54.43 on Friday. MoonLake Immunotherapeutics has a 1-year low of $37.55 and a 1-year high of $64.98. The business has a 50-day moving average price of $50.27 and a 200 day moving average price of $46.39. The company has a market capitalization of $3.48 billion, a P/E ratio of -42.19 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same quarter last year, the company posted ($0.18) EPS. On average, analysts anticipate that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Simon Sturge sold 171,000 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $53.72, for a total value of $9,186,120.00. Following the transaction, the director now directly owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. This represents a 49.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.02% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its stake in MoonLake Immunotherapeutics by 1,269.2% during the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock valued at $283,000 after acquiring an additional 5,229 shares during the period. Y Intercept Hong Kong Ltd lifted its position in MoonLake Immunotherapeutics by 55.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 20,325 shares of the company’s stock valued at $1,025,000 after purchasing an additional 7,247 shares during the period. State Street Corp boosted its holdings in MoonLake Immunotherapeutics by 96.2% in the third quarter. State Street Corp now owns 87,637 shares of the company’s stock valued at $4,419,000 after purchasing an additional 42,980 shares during the last quarter. Parkman Healthcare Partners LLC grew its position in MoonLake Immunotherapeutics by 1.6% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 102,813 shares of the company’s stock worth $5,184,000 after purchasing an additional 1,589 shares during the period. Finally, HighVista Strategies LLC raised its stake in shares of MoonLake Immunotherapeutics by 3.1% during the 3rd quarter. HighVista Strategies LLC now owns 43,541 shares of the company’s stock valued at $2,195,000 after buying an additional 1,292 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.