MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) from a strong sell rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

MLTX has been the topic of a number of other reports. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Wednesday. Weiss Ratings upgraded MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Leerink Partners increased their target price on shares of 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 raised their price target on shares of MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, BTIG Research reaffirmed a “buy” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.57.

MoonLake Immunotherapeutics Stock Up 0.3%

Shares of MLTX opened at $12.39 on Friday. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. The company’s fifty day moving average is $16.55 and its two-hundred day moving average is $17.55. The firm has a market cap of $1.05 billion, a PE ratio of -3.23 and a beta of 1.04. The company has a quick ratio of 12.56, a current ratio of 12.56 and a debt-to-equity ratio of 0.23.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Monday, August 10th. The company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.07. Analysts forecast that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current year.

Insider Activity

In related news, CEO Silva Santos sold 68,289 shares of the firm’s 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 sale, the chief executive officer directly owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This trade represents a 2.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 business’s stock in a transaction that occurred 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 transaction, the insider directly owned 2,714,746 shares in the company, valued at $54,349,214.92. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 244,800 shares of company stock valued at $4,904,071 in the last ninety days. Company insiders own 10.40% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Large investors have recently bought and sold shares of the company. Cormorant Asset Management LP raised its stake in shares of MoonLake Immunotherapeutics by 118.4% during the fourth 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 boosted its stake in shares of MoonLake Immunotherapeutics by 64.7% in the first quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock valued at $64,304,000 after purchasing an additional 1,355,640 shares during the period. Weiss Asset Management LP boosted its stake in shares of MoonLake Immunotherapeutics by 413.1% in the first quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock valued at $31,843,000 after purchasing an additional 1,375,367 shares during the period. Candriam S.C.A. boosted its stake in shares of 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 grew its holdings in MoonLake Immunotherapeutics by 5,255.8% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

About MoonLake Immunotherapeutics

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.