MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target Raised to $13.00

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price objective upped by Royal Bank Of Canada from $12.00 to $13.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

Other analysts have also recently issued research reports about the company. Needham & Company LLC upped their price objective on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. The Goldman Sachs Group lowered shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and upped their price target for the company from $8.00 to $10.00 in a research report on Wednesday, January 14th. UBS Group set a $24.00 price objective on shares of MoonLake Immunotherapeutics in a report on Friday, January 9th. Zacks Research upgraded shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, HC Wainwright increased their price target on shares of MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of “Hold” and a consensus price target of $27.85.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $18.14 on Monday. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $15.88 and a 200-day moving average price of $22.28. MoonLake Immunotherapeutics has a 52 week low of $5.95 and a 52 week high of $62.75. The firm has a market capitalization of $1.17 billion, a PE ratio of -5.15 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Wednesday, February 25th. The company reported ($0.92) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.92). During the same quarter in the previous year, the firm posted ($0.72) earnings per share. As a group, equities research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Kristian Reich sold 130,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $15.08, for a total value of $1,960,400.00. Following the transaction, the insider directly owned 72,908 shares in the company, valued at $1,099,452.64. The trade was a 64.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Da Silva Jorge Santos sold 130,000 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $15.08, for a total value of $1,960,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,948,577 shares of the company’s stock, valued at approximately $44,464,541.16. This trade represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 402,908 shares of company stock worth $5,987,162. 12.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth $26,000. FNY Investment Advisers LLC purchased a new stake in MoonLake Immunotherapeutics in the 3rd quarter worth $28,000. Bank of America Corp DE boosted its holdings in shares of MoonLake Immunotherapeutics by 64.7% during the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after purchasing an additional 1,781 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of MoonLake Immunotherapeutics by 115.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock valued at $42,000 after purchasing an additional 3,166 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after purchasing an additional 1,069 shares in the last quarter. Institutional investors 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.