MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded at Zacks Research

Zacks Research upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) from a strong sell rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on MLTX. BTIG Research increased their target price on shares of MoonLake Immunotherapeutics from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Monday. Oppenheimer upped their price target on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, February 3rd. Royal Bank Of Canada raised their price objective on MoonLake Immunotherapeutics from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Finally, The Goldman Sachs Group lowered MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and upped their target price for the company from $8.00 to $10.00 in a research report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.15.

MoonLake Immunotherapeutics Trading Down 3.0%

Shares of NASDAQ MLTX opened at $17.68 on Tuesday. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The business has a fifty day moving average price of $15.55 and a 200 day moving average price of $23.53. The stock has a market capitalization of $1.14 billion, a P/E ratio of -5.02 and a beta of 1.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 8.50 and a quick ratio of 8.50.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Wednesday, February 25th. The company reported ($0.92) EPS for the quarter, hitting analysts’ consensus estimates of ($0.92). During the same quarter in the prior year, the company earned ($0.72) earnings per share. Equities research analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Insider Transactions at MoonLake Immunotherapeutics

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

Institutional Trading of MoonLake Immunotherapeutics

Several large investors have recently made changes to their positions in MLTX. Elevation Point Wealth Partners LLC purchased a new position in shares of MoonLake Immunotherapeutics during the second quarter worth $74,000. Kestra Advisory Services LLC purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter valued at $26,000. Russell Investments Group Ltd. grew its position in MoonLake Immunotherapeutics by 45.4% during the 4th 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. T. Rowe Price Investment Management Inc. purchased a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at about $47,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter valued at about $28,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.