MoonLake Immunotherapeutics’ (MLTX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report released on Thursday,Benzinga reports. They currently have a $100.00 price objective on the stock.

Several other equities analysts have also recently commented on MLTX. Wolfe Research cut MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Needham & Company LLC restated a “buy” rating and issued a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Wedbush reiterated an “outperform” rating and set a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $79.00.

MoonLake Immunotherapeutics Stock Down 7.0 %

MLTX opened at $48.83 on Thursday. The stock’s 50 day moving average price is $49.87 and its two-hundred day moving average price is $45.75. The firm has a market capitalization of $3.12 billion, a P/E ratio of -37.85 and a beta of 1.28. MoonLake Immunotherapeutics has a 12-month low of $37.55 and a 12-month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same period last year, the business posted ($0.18) EPS. As a group, analysts anticipate that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the sale, the director now owns 171,980 shares of the company’s stock, valued at $9,238,765.60. This represents a 49.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.02% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of large investors have recently modified their holdings of MLTX. US Bancorp DE acquired a new stake in shares of MoonLake Immunotherapeutics in the third quarter valued at approximately $44,000. Quarry LP boosted its position in MoonLake Immunotherapeutics by 172.7% in the 2nd quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $132,000 after buying an additional 1,900 shares during the last quarter. Bellevue Group AG acquired a new stake in shares of MoonLake Immunotherapeutics in the 1st quarter valued at $221,000. Barclays PLC raised its position in shares of MoonLake Immunotherapeutics by 1,269.2% during the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after acquiring an additional 5,229 shares during the last quarter. Finally, DNB Asset Management AS lifted its stake in shares of MoonLake Immunotherapeutics by 29.8% during the second quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock valued at $324,000 after acquiring an additional 1,694 shares during the period. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.