Royal Bank Of Canada Forecasts Strong Price Appreciation for MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its target price raised by equities research analysts at Royal Bank Of Canada from $12.00 to $13.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential downside of 26.51% from the company’s current price.

MLTX has been the topic of several other research reports. HC Wainwright upped their price objective on shares of MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday. UBS Group set a $24.00 price target on MoonLake Immunotherapeutics in a report on Friday, January 9th. Needham & Company LLC raised their price objective on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Oppenheimer lifted their price objective on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Finally, BTIG Research increased their target price on MoonLake Immunotherapeutics from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.85.

MoonLake Immunotherapeutics Stock Up 0.1%

Shares of NASDAQ:MLTX opened at $17.69 on Monday. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.14 billion, a P/E ratio of -5.03 and a beta of 1.20. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. The stock’s fifty day simple moving average is $15.80 and its 200-day simple moving average is $22.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Wednesday, February 25th. The company reported ($0.92) earnings per share for the quarter, meeting the consensus estimate of ($0.92). During the same quarter last year, the company posted ($0.72) earnings per share. As a group, equities research analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Kristian Reich sold 72,908 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $14.43, for a total value of $1,052,062.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Da Silva Jorge Santos sold 70,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $14.49, for a total value of $1,014,300.00. Following the completion of the transaction, the chief executive officer directly owned 2,878,577 shares in the company, valued at $41,710,580.73. This represents a 2.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 402,908 shares of company stock valued at $5,987,162 over the last 90 days. 12.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Large investors have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $26,000. FNY Investment Advisers LLC purchased a new position in MoonLake Immunotherapeutics in the third quarter valued at about $28,000. Bank of America Corp DE lifted its stake in shares of MoonLake Immunotherapeutics by 64.7% during the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock worth $32,000 after purchasing an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of MoonLake Immunotherapeutics by 115.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock worth $42,000 after purchasing an additional 3,166 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of MoonLake Immunotherapeutics by 45.4% in the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after buying an additional 1,069 shares during the period. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.