MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $24.57 Average Target Price from Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX) has been given an average rating of “Hold” by the seventeen analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $24.5714.

Several equities research analysts have commented on MLTX shares. HC Wainwright boosted their price target on shares of MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. BTIG Research reaffirmed a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Leerink Partners lifted their price objective on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Finally, Needham & Company LLC boosted their target price on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th.

Insider Buying and Selling

In other news, CEO Silva Santos sold 68,289 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $20.02, for a total transaction 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 trade represents a 2.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total value of $1,001,000.00. Following the sale, the insider directly owned 2,714,746 shares of the company’s stock, valued at approximately $54,349,214.92. This represents a 1.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 344,800 shares of company stock valued at $6,820,071 over the last 90 days. 10.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Hedge funds have recently modified their holdings of the stock. Cormorant Asset Management LP boosted its position in shares of MoonLake Immunotherapeutics by 118.4% in the 4th 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 period. Janus Henderson Group PLC raised its holdings in MoonLake Immunotherapeutics by 64.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock worth $64,304,000 after buying an additional 1,355,640 shares during the period. Logos Global Management LP purchased a new stake in MoonLake Immunotherapeutics during the fourth quarter valued at about $23,065,000. Weiss Asset Management LP lifted its stake in MoonLake Immunotherapeutics by 413.1% during the first quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock valued at $31,843,000 after buying an additional 1,375,367 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in MoonLake Immunotherapeutics by 17.8% during the second quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock valued at $53,715,000 after buying an additional 171,932 shares in the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX stock opened at $15.01 on Friday. MoonLake Immunotherapeutics has a 1 year low of $5.95 and a 1 year high of $62.75. The company has a debt-to-equity ratio of 0.23, a quick ratio of 12.56 and a current ratio of 12.56. The business’s fifty day moving average is $17.80 and its 200-day moving average is $17.90. The stock has a market cap of $1.28 billion, a PE ratio of -3.91 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.07. Equities analysts expect that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current fiscal 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.