MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Has Average Price Target of $26.92 According to Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX) has earned an average rating of “Hold” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $28.50.

Several equities research analysts recently commented on the company. Weiss Ratings raised MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. BTIG Research restated a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. HC Wainwright upped their target price on MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Leerink Partners raised their target price on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen lowered MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, September 27th.

Insider Activity

In related news, insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the completion of the sale, the insider directly owned 2,714,746 shares in the company, valued at approximately $54,349,214.92. This trade represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Silva Santos sold 68,289 shares of MoonLake Immunotherapeutics stock in a transaction dated 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 transaction, the chief executive officer directly owned 2,774,893 shares in the company, valued at $55,553,357.86. This trade represents a 2.40% 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. Over the last 90 days, insiders have sold 197,025 shares of company stock valued at $3,947,138. 10.40% of the stock is owned by company insiders.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors have recently made changes to their positions in the company. Cormorant Asset Management LP lifted its holdings 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 acquiring an additional 2,361,260 shares during the last quarter. Janus Henderson Group PLC increased its stake in MoonLake Immunotherapeutics by 64.7% during the first quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock worth $64,304,000 after acquiring an additional 1,355,640 shares during the last quarter. Weiss Asset Management LP increased 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 worth $31,843,000 after acquiring an additional 1,375,367 shares during the last quarter. Candriam S.C.A. raised its position in MoonLake Immunotherapeutics by 509.0% in the first quarter. Candriam S.C.A. now owns 818,126 shares of the company’s stock valued at $15,250,000 after purchasing an additional 683,797 shares during the period. Finally, Bank of America Corp DE raised its position in MoonLake Immunotherapeutics by 5,255.8% in the first quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock valued at $13,510,000 after purchasing an additional 711,261 shares during the period. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Down 2.0%

MLTX stock opened at $11.47 on Tuesday. The company has a market cap of $976.21 million, a price-to-earnings ratio of -2.99 and a beta of 1.09. The company has a current ratio of 12.56, a quick ratio of 12.56 and a debt-to-equity ratio of 0.23. MoonLake Immunotherapeutics has a 12 month low of $6.56 and a 12 month high of $23.29. The firm has a 50-day moving average of $15.22 and a two-hundred day moving average of $17.19.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Monday, August 10th. The company reported ($0.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.07. As a group, analysts forecast that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current fiscal year.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for inflammatory and immunologic diseases. The company’s approach is based on Nanobody technology, which is designed to create targeted therapies with potential advantages in tissue penetration and biological activity.

MoonLake’s lead product candidate is sonelokimab, a trivalent Nanobody designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.