Brokerages Set MoonLake Immunotherapeutics (NASDAQ:MLTX) PT at $23.85

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have earned an average recommendation of “Hold” from the sixteen analysts that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $23.8462.

Several research analysts have weighed in on MLTX shares. Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $12.00 to $40.00 in a report on Thursday, March 19th. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and increased their target price for the company from $12.00 to $24.00 in a report on Monday, March 23rd. Oppenheimer increased their target price on shares of MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Zacks Research upgraded shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th.

MoonLake Immunotherapeutics Trading Up 2.7%

MLTX opened at $19.18 on Wednesday. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -4.96 and a beta of 1.01. The company’s 50 day moving average price is $17.60 and its two-hundred day moving average price is $16.06.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). As a group, research analysts predict that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current year.

Insider Transactions at MoonLake Immunotherapeutics

In other news, Director Bvf Partners L. P/Il sold 3,750,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $16.79, for a total value of $62,962,500.00. Following the completion of the transaction, the director directly owned 1,039,238 shares in the company, valued at approximately $17,448,806.02. This trade represents a 78.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Da Silva Jorge Santos sold 98,127 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $18.41, for a total transaction of $1,806,518.07. Following the completion of the transaction, the chief executive officer owned 2,976,766 shares of the company’s stock, valued at $54,802,262.06. This trade represents a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,900,000 shares of company stock valued at $65,714,663 in the last quarter. Company insiders own 12.02% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of MLTX. Kestra Advisory Services LLC purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter valued at approximately $26,000. FNY Investment Advisers LLC purchased a new stake in MoonLake Immunotherapeutics in the third quarter valued at approximately $28,000. Bank of America Corp DE raised its stake in MoonLake Immunotherapeutics by 64.7% in the third 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MoonLake Immunotherapeutics by 115.0% in the third 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 in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in MoonLake Immunotherapeutics by 45.4% in 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. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.