MoonLake Immunotherapeutics (NASDAQ:MLTX) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a report released on Monday morning, MarketBeat.com reports. HC Wainwright currently has a $45.00 price target on the stock.

A number of other analysts have also recently issued reports on the company. Leerink Partners raised their price objective on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Needham & Company LLC boosted their target price on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. BTIG Research restated a “buy” rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Wolfe Research raised MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and raised their price target for the company from $12.00 to $24.00 in a report on Monday, March 23rd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Hold” and an average target price of $24.21.

MoonLake Immunotherapeutics Stock Down 3.2%

Shares of MLTX stock opened at $19.05 on Monday. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -4.92 and a beta of 1.04. The firm’s 50-day moving average is $18.87 and its 200-day moving average is $17.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). Sell-side analysts predict that MoonLake Immunotherapeutics will post -3.71 EPS for the current year.

Insider Activity at MoonLake Immunotherapeutics

In other news, CEO Da Silva Jorge Santos sold 68,289 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $20.02, for a total value of $1,367,145.78. Following the transaction, the chief executive officer owned 2,774,893 shares of the company’s stock, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the insider owned 2,824,551 shares in the company, valued at approximately $54,881,025.93. This trade represents a 1.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 250,000 shares of company stock valued at $4,919,138 over the last 90 days. Company insiders own 10.40% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors have recently added to or reduced their stakes in MLTX. Geode Capital Management LLC grew its holdings in shares of MoonLake Immunotherapeutics by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after purchasing an additional 559 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of MoonLake Immunotherapeutics by 3.7% in the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock worth $829,000 after purchasing an additional 629 shares during the period. Axiom Investors LLC DE raised its stake in MoonLake Immunotherapeutics by 3.2% in the fourth quarter. Axiom Investors LLC DE now owns 25,998 shares of the company’s stock valued at $343,000 after purchasing an additional 818 shares in the last quarter. Russell Investments Group Ltd. lifted its position in MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after purchasing an additional 1,069 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in MoonLake Immunotherapeutics by 18.9% during the third quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock worth $52,000 after buying an additional 1,158 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors.

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.