MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX) has earned an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $81.43.

Several research firms have recently commented on MLTX. HC Wainwright reissued a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 14th. Wedbush reiterated an “outperform” rating and issued a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Finally, Wolfe Research cut shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th.

Insiders Place Their Bets

In other news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the transaction, the director now directly owns 171,980 shares in the company, valued at $9,238,765.60. This trade represents a 49.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.02% of the stock is owned by insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently modified their holdings of the stock. TD Asset Management Inc raised its stake in shares of MoonLake Immunotherapeutics by 2.5% during the 2nd quarter. TD Asset Management Inc now owns 209,234 shares of the company’s stock worth $9,200,000 after buying an additional 5,140 shares during the period. Victory Capital Management Inc. boosted its position in shares of MoonLake Immunotherapeutics by 16.0% during the 2nd quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock valued at $7,681,000 after acquiring an additional 24,037 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of MoonLake Immunotherapeutics by 2.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock valued at $49,617,000 after buying an additional 28,672 shares during the period. Avoro Capital Advisors LLC grew its position in MoonLake Immunotherapeutics by 7.4% in the second quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock worth $121,797,000 after acquiring an additional 190,000 shares during the period. Finally, Logos Global Management LP acquired a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter worth about $32,978,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX opened at $56.30 on Wednesday. MoonLake Immunotherapeutics has a one year low of $37.55 and a one year high of $64.98. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -43.64 and a beta of 1.31. The company’s 50-day simple moving average is $50.50 and its two-hundred day simple moving average is $47.47.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same quarter in the prior year, the firm earned ($0.18) EPS. Equities analysts expect that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current fiscal year.

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.