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

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They currently have a $100.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 127.74% from the stock’s previous close.

MLTX has been the subject of a number of other reports. William Blair restated an “outperform” rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday. Stifel Nicolaus lifted their price objective on shares of MoonLake Immunotherapeutics from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. The Goldman Sachs Group started coverage on MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and set a $92.00 price target on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of “Moderate Buy” and an average price target of $74.46.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX opened at $43.91 on Thursday. The business’s 50-day simple moving average is $51.57 and its 200 day simple moving average is $52.63. MoonLake Immunotherapeutics has a one year low of $17.82 and a one year high of $64.98. The company has a market cap of $2.81 billion, a P/E ratio of -57.78 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.11. Analysts predict that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $62.43, for a total transaction of $624,300.00. Following the completion of the transaction, the insider now owns 130,071 shares in the company, valued at $8,120,332.53. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $60.18, for a total transaction of $1,203,600.00. Following the transaction, the chief executive officer now owns 3,147,554 shares of the company’s stock, valued at approximately $189,419,799.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristian Reich sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $62.43, for a total value of $624,300.00. Following the completion of the sale, the insider now directly owns 130,071 shares of the company’s stock, valued at approximately $8,120,332.53. The disclosure for this sale can be found here. In the last 90 days, insiders sold 166,981 shares of company stock worth $9,490,674. Insiders own 15.27% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its position in MoonLake Immunotherapeutics by 956.6% during the second quarter. Osaic Holdings Inc. now owns 803 shares of the company’s stock worth $41,000 after acquiring an additional 727 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in MoonLake Immunotherapeutics during the 2nd quarter worth $47,000. Quarry LP bought a new position in MoonLake Immunotherapeutics during the 4th quarter worth $51,000. Goldman Sachs Group Inc. acquired a new position in MoonLake Immunotherapeutics in the 2nd quarter valued at $62,000. Finally, Bank of America Corp DE bought a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $83,000. 93.85% of the stock is 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.