MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $24.21 Consensus Target Price from Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX) has been assigned a consensus recommendation of “Hold” from the seventeen ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $24.2143.

MLTX has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and set a $45.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday, June 8th. Needham & Company LLC raised their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. BTIG Research reaffirmed a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Finally, Leerink Partners increased their price target on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $19.68 on Thursday. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60. The stock has a market cap of $1.45 billion, a PE ratio of -5.09 and a beta of 1.04. The stock has a 50-day moving average of $18.87 and a 200-day moving average of $17.44.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.07). As a group, sell-side analysts expect that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current year.

Insider Activity at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 50,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $19.43, for a total value of $971,500.00. Following the completion of the sale, the insider directly owned 2,824,551 shares in the company, valued at $54,881,025.93. The trade was a 1.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Da Silva Jorge Santos sold 68,289 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the completion of the sale, the chief executive officer directly owned 2,774,893 shares of the company’s stock, valued at approximately $55,553,357.86. The trade was a 2.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 250,000 shares of company stock valued at $4,919,138. 12.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Large investors have recently bought and sold shares of the company. Cormorant Asset Management LP increased its stake in MoonLake Immunotherapeutics by 118.4% in the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock valued at $57,405,000 after acquiring an additional 2,361,260 shares during the last quarter. Janus Henderson Group PLC lifted its stake in MoonLake Immunotherapeutics by 64.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock valued at $64,304,000 after purchasing an additional 1,355,640 shares during the last quarter. Logos Global Management LP bought a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $23,065,000. Weiss Asset Management LP raised its position in MoonLake Immunotherapeutics by 413.1% in the first quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock valued at $31,843,000 after purchasing an additional 1,375,367 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in MoonLake Immunotherapeutics by 17.8% in the 2nd quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock valued at $53,715,000 after buying an additional 171,932 shares during the last quarter. 93.85% of the stock is currently 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.