MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target Raised to $30.00

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price objective lifted by equities researchers at BTIG Research from $24.00 to $30.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 60.60% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Zacks Research cut shares of MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada raised their price target on shares of MoonLake Immunotherapeutics from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday. Oppenheimer reiterated an “outperform” rating on shares of MoonLake Immunotherapeutics in a research note on Tuesday. Citigroup downgraded MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 29th. Finally, UBS Group set a $24.00 price target on MoonLake Immunotherapeutics in a research report on Friday, January 9th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of “Hold” and an average target price of $26.77.

MoonLake Immunotherapeutics Stock Down 0.5%

MLTX stock opened at $18.68 on Monday. The stock’s fifty day simple moving average is $15.32 and its two-hundred day simple moving average is $23.85. The company has a current ratio of 8.50, a quick ratio of 8.50 and a debt-to-equity ratio of 0.25. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The stock has a market cap of $1.20 billion, a P/E ratio of -5.63 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.97) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.97). During the same quarter in the previous year, the company earned ($0.72) earnings per share. Analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Insider Activity at MoonLake Immunotherapeutics

In related news, CEO Da Silva Jorge Santos sold 130,000 shares of MoonLake Immunotherapeutics stock in a transaction on Monday, December 8th. The shares were sold at an average price of $15.08, for a total value of $1,960,400.00. Following the transaction, the chief executive officer owned 2,948,577 shares in the company, valued at $44,464,541.16. This trade represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kristian Reich sold 130,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $15.08, for a total transaction of $1,960,400.00. Following the sale, the insider owned 72,908 shares of the company’s stock, valued at approximately $1,099,452.64. The trade was a 64.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 402,908 shares of company stock worth $5,987,162 over the last three months. Insiders own 12.05% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of large investors have recently bought and sold shares of the stock. Cormorant Asset Management LP lifted its position in MoonLake Immunotherapeutics by 118.4% in the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock valued at $57,405,000 after purchasing an additional 2,361,260 shares during the last quarter. Janus Henderson Group PLC raised its holdings in MoonLake Immunotherapeutics by 18,782.8% during the 4th quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock valued at $27,657,000 after buying an additional 2,084,888 shares during the last quarter. Logos Global Management LP bought a new stake in MoonLake Immunotherapeutics in the 4th quarter worth $23,065,000. Vivo Capital LLC purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at about $13,180,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of MoonLake Immunotherapeutics during the third quarter valued at about $6,922,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.