MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Expected to Rise, HC Wainwright Analyst Says

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its target price raised by research analysts at HC Wainwright from $32.00 to $40.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 126.12% from the company’s current price.

Several other research analysts have also recently issued reports on MLTX. Zacks Research raised MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. BTIG Research boosted 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. UBS Group set a $24.00 target price on MoonLake Immunotherapeutics in a report on Friday, January 9th. The Goldman Sachs Group cut 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 note on Wednesday, January 14th. Finally, Royal Bank Of Canada boosted their price objective on MoonLake Immunotherapeutics from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Hold” and an average target price of $27.85.

MoonLake Immunotherapeutics Price Performance

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 business’s 50-day moving average price is $15.80 and its 200 day moving average price is $22.31. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. The firm has a market cap of $1.14 billion, a P/E ratio of -5.03 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data 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 in the prior year, the business posted ($0.72) EPS. As a group, sell-side analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Da Silva Jorge Santos sold 130,000 shares of the company’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 transaction, the chief executive officer owned 2,948,577 shares in the company, valued at $44,464,541.16. This represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kristian Reich sold 130,000 shares of the stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 402,908 shares of company stock worth $5,987,162. Company insiders own 12.05% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently modified their holdings of MLTX. Kestra Advisory Services LLC purchased a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $26,000. FNY Investment Advisers LLC acquired a new stake in MoonLake Immunotherapeutics during the third quarter valued at $28,000. Bank of America Corp DE grew its stake in MoonLake Immunotherapeutics by 64.7% in the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after purchasing an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in MoonLake Immunotherapeutics by 115.0% in the 3rd 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 during the last quarter. Finally, Russell Investments Group Ltd. increased its position in MoonLake Immunotherapeutics by 45.4% in 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 last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.