Brokerages Set MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target at $74.46

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been assigned an average rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $74.46.

MLTX has been the topic of a number of recent research 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. HC Wainwright restated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, April 11th. The Goldman Sachs Group began coverage on MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 target price on the stock. Wolfe Research began coverage on MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They set an “outperform” rating and a $77.00 price target for the company. Finally, Wedbush reiterated an “outperform” rating and set a $92.00 price target on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th.

MoonLake Immunotherapeutics Stock Down 2.9 %

Shares of MoonLake Immunotherapeutics stock opened at $42.25 on Friday. The firm has a market capitalization of $2.70 billion, a PE ratio of -55.59 and a beta of 1.20. MoonLake Immunotherapeutics has a 12-month low of $19.80 and a 12-month high of $64.98. The stock’s fifty day moving average is $50.26 and its 200-day moving average is $52.27.

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

Insider Activity at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $62.43, for a total transaction of $624,300.00. Following the completion of the sale, the insider now owns 130,071 shares in the company, valued at approximately $8,120,332.53. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $62.43, for a total value of $624,300.00. Following the completion of the transaction, the insider now owns 130,071 shares of the company’s stock, valued at approximately $8,120,332.53. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Da Silva Jorge Santos sold 20,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $57.44, for a total value of $1,148,800.00. Following the completion of the transaction, the chief executive officer now directly owns 3,107,554 shares of the company’s stock, valued at $178,497,901.76. The disclosure for this sale can be found here. Insiders sold a total of 166,981 shares of company stock worth $9,490,674 in the last 90 days. 15.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently modified their holdings of the stock. FMR LLC raised its holdings in shares of MoonLake Immunotherapeutics by 0.6% in the 3rd quarter. FMR LLC now owns 3,397,253 shares of the company’s stock worth $193,643,000 after buying an additional 19,508 shares in the last quarter. Citadel Advisors LLC bought a new stake in MoonLake Immunotherapeutics during the 2nd quarter worth approximately $13,916,000. Avoro Capital Advisors LLC grew its position in MoonLake Immunotherapeutics by 29.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock worth $155,806,000 after acquiring an additional 580,001 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in MoonLake Immunotherapeutics by 9.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock worth $139,744,000 after acquiring an additional 196,144 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in MoonLake Immunotherapeutics by 42.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,952,703 shares of the company’s stock worth $111,304,000 after acquiring an additional 580,375 shares during the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

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.