MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Average Recommendation of “Hold” by Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have received a consensus recommendation of “Hold” from the seventeen analysts that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $24.2143.

A number of analysts have commented on MLTX shares. Wolfe Research raised shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $12.00 to $24.00 in a report on Monday, March 23rd. Leerink Partners raised their price target on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday. Weiss Ratings reiterated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Finally, Needham & Company LLC increased their target price on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th.

Insider Activity

In other news, CEO Da Silva Jorge Santos sold 68,289 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $20.02, for a total value of $1,367,145.78. Following the completion of the sale, the chief executive officer directly owned 2,774,893 shares of the company’s stock, valued at $55,553,357.86. This represents a 2.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00. Following the completion of the sale, the insider owned 2,824,551 shares in the company, valued at $54,881,025.93. This represents a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 250,000 shares of company stock valued at $4,919,138 over the last 90 days. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC raised its stake in MoonLake Immunotherapeutics by 221.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock worth $53,000 after buying an additional 1,974 shares during the period. FNY Investment Advisers LLC acquired a new stake in MoonLake Immunotherapeutics during the 2nd quarter worth $58,000. Russell Investments Group Ltd. lifted its holdings in MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after acquiring an additional 1,069 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new position in MoonLake Immunotherapeutics during the fourth quarter worth about $47,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX opened at $19.05 on Thursday. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The stock has a market capitalization of $1.40 billion, a P/E ratio of -4.92 and a beta of 1.04. The business has a 50-day moving average price of $18.87 and a two-hundred day moving average price of $17.50.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Monday, May 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.07). Equities analysts predict that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current year.

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.