MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Rating Reaffirmed by HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $100.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 138.27% from the company’s previous close.

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

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX opened at $41.97 on Wednesday. The stock has a market cap of $2.68 billion, a P/E ratio of -55.22 and a beta of 1.29. MoonLake Immunotherapeutics has a fifty-two week low of $24.31 and a fifty-two week high of $64.98. The stock has a 50 day simple moving average of $45.90 and a two-hundred day simple moving average of $50.71.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). Sell-side analysts predict that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other news, insider Kristian Reich sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $60.15, for a total value of $601,500.00. Following the transaction, the insider now owns 110,071 shares of the company’s stock, valued at $6,620,770.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $60.18, for a total value of $1,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,147,554 shares in the company, valued at $189,419,799.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kristian Reich sold 10,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $60.15, for a total transaction of $601,500.00. Following the completion of the sale, the insider now directly owns 110,071 shares of the company’s stock, valued at $6,620,770.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 166,981 shares of company stock valued at $9,490,674. Company insiders own 15.27% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MLTX. Quarry LP bought a new stake in MoonLake Immunotherapeutics during the fourth quarter valued at about $51,000. Barclays PLC bought a new position in MoonLake Immunotherapeutics in the 3rd quarter worth approximately $189,000. Stratos Wealth Partners LTD. purchased a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at approximately $217,000. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of MoonLake Immunotherapeutics during the third quarter valued at approximately $246,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

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.