MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a report released on Tuesday morning, Benzinga reports. They currently have a $100.00 price objective on the stock.

Several other equities analysts have also recently commented on MLTX. The Goldman Sachs Group initiated coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They issued a neutral rating and a $62.00 target price for the company. Wedbush restated an outperform rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. William Blair restated an outperform rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, February 26th. Wolfe Research initiated coverage on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 15th. They issued an outperform rating and a $77.00 target price for the company. Finally, Needham & Company LLC restated a buy rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, MoonLake Immunotherapeutics currently has an average rating of Moderate Buy and a consensus target price of $74.46.

MoonLake Immunotherapeutics Stock Up 5.4 %

Shares of MoonLake Immunotherapeutics stock opened at $43.25 on Tuesday. MoonLake Immunotherapeutics has a twelve month low of $19.80 and a twelve month high of $64.98. The company has a 50-day simple moving average of $49.38 and a two-hundred day simple moving average of $51.93. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -56.91 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.11. On average, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 29,431 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total transaction of $1,618,705.00. Following the sale, the insider now directly owns 70,071 shares of the company’s stock, valued at approximately $3,853,905. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Da Silva Jorge Santos sold 20,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $57.44, for a total value of $1,148,800.00. Following the sale, the chief executive officer now directly owns 3,107,554 shares of the company’s stock, valued at approximately $178,497,901.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kristian Reich sold 29,431 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total transaction of $1,618,705.00. Following the completion of the sale, the insider now directly owns 70,071 shares in the company, valued at $3,853,905. The disclosure for this sale can be found here. Insiders have sold 166,981 shares of company stock valued at $9,490,674 in the last ninety days. 15.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently modified their holdings of the company. Quarry LP bought a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $51,000. Barclays PLC bought a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $189,000. Stratos Wealth Partners LTD. bought a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $202,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $217,000. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $246,000. 93.85% of the stock is owned by institutional investors.

About MoonLake Immunotherapeutics

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.