Royal Bank Of Canada Boosts MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target to $12.00

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price objective lifted by stock analysts at Royal Bank Of Canada from $10.00 to $12.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential downside of 36.07% from the company’s previous close.

Several other equities analysts also recently issued reports on MLTX. Oppenheimer restated an “outperform” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 6th. Zacks Research cut MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. UBS Group set a $24.00 price target on MoonLake Immunotherapeutics in a research note on Friday, January 9th. The Goldman Sachs Group lowered MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $8.00 to $10.00 in a research report on Wednesday, January 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, February 3rd. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.92.

MoonLake Immunotherapeutics Stock Up 3.3%

MLTX stock opened at $18.77 on Friday. The stock has a market cap of $1.21 billion, a P/E ratio of -5.65 and a beta of 1.21. The company has a current ratio of 8.50, a quick ratio of 8.50 and a debt-to-equity ratio of 0.25. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The company’s 50 day moving average is $15.24 and its two-hundred day moving average is $24.28.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 130,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $15.08, for a total transaction of $1,960,400.00. Following the completion of the transaction, the insider owned 72,908 shares in the company, valued at approximately $1,099,452.64. This represents a 64.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Da Silva Jorge Santos sold 130,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $15.08, for a total transaction of $1,960,400.00. Following the transaction, the chief executive officer owned 2,948,577 shares in the company, valued at approximately $44,464,541.16. This trade represents a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 402,908 shares of company stock worth $5,987,162. Corporate insiders own 12.02% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently added to or reduced their stakes in MLTX. Cormorant Asset Management LP raised its stake in shares of MoonLake Immunotherapeutics by 118.4% during the 4th quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after buying an additional 2,361,260 shares in the last quarter. Janus Henderson Group PLC grew its holdings in MoonLake Immunotherapeutics by 18,782.8% during the fourth quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock worth $27,657,000 after acquiring an additional 2,084,888 shares during the period. Logos Global Management LP purchased a new position in MoonLake Immunotherapeutics in the fourth quarter worth $23,065,000. Alliancebernstein L.P. lifted its holdings in MoonLake Immunotherapeutics by 17.8% in the second quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock valued at $53,715,000 after acquiring an additional 171,932 shares during the period. Finally, Vivo Capital LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter worth $13,180,000. Hedge funds and other institutional investors 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.