MoonLake Immunotherapeutics (NASDAQ:MLTX) Rating Lowered to “Underperform” at Wolfe Research

MoonLake Immunotherapeutics (NASDAQ:MLTX) was downgraded by equities research analysts at Wolfe Research from an “outperform” rating to an “underperform” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports.

A number of other equities analysts have also weighed in on MLTX. BTIG Research lowered MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating and set a $85.00 target price for the company. in a research report on Monday. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $10.00 target price (down from $67.00) on shares of MoonLake Immunotherapeutics in a research note on Monday. Needham & Company LLC decreased their target price on shares of MoonLake Immunotherapeutics from $66.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday. Guggenheim decreased their price objective on shares of MoonLake Immunotherapeutics from $80.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, The Goldman Sachs Group raised their price objective on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, MoonLake Immunotherapeutics presently has a consensus rating of “Hold” and a consensus price target of $37.00.

MoonLake Immunotherapeutics Stock Up 5.7%

Shares of MoonLake Immunotherapeutics stock opened at $7.46 on Tuesday. The stock has a market capitalization of $479.16 million, a price-to-earnings ratio of -2.68 and a beta of 1.11. The company’s 50 day moving average price is $50.88 and its 200-day moving average price is $45.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 16.65 and a current ratio of 16.65. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same quarter last year, the company posted ($0.39) EPS. Equities research analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, major shareholder Bihua Chen sold 6,494,151 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $7.21, for a total transaction of $46,822,828.71. Following the completion of the transaction, the insider owned 2,000,000 shares of the company’s stock, valued at $14,420,000. This trade represents a 76.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 12.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG raised its stake in MoonLake Immunotherapeutics by 59.8% in the fourth quarter. Deutsche Bank AG now owns 903 shares of the company’s stock valued at $49,000 after buying an additional 338 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in MoonLake Immunotherapeutics by 17.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,236 shares of the company’s stock worth $2,287,000 after purchasing an additional 6,422 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in MoonLake Immunotherapeutics in the 4th quarter valued at about $1,091,000. Harbor Capital Advisors Inc. raised its stake in shares of MoonLake Immunotherapeutics by 28.1% during the first quarter. Harbor Capital Advisors Inc. now owns 102,020 shares of the company’s stock worth $3,986,000 after purchasing an additional 22,372 shares during the last quarter. Finally, Moody Aldrich Partners LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the 1st quarter worth $2,158,000. 93.85% of the stock is owned by institutional investors and hedge funds.

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.