MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $25.29 Average PT from Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Rating) has been given a consensus recommendation of “Buy” by the twelve research firms that are presently covering the firm, Marketbeat.com reports. Eleven analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $25.29.

MLTX has been the topic of a number of recent research reports. BTIG Research initiated coverage on MoonLake Immunotherapeutics in a research report on Thursday, March 9th. They issued a “buy” rating and a $36.00 price objective on the stock. Wedbush began coverage on MoonLake Immunotherapeutics in a research report on Wednesday, March 22nd. They issued an “outperform” rating and a $33.00 price target on the stock. HC Wainwright raised their price target on MoonLake Immunotherapeutics from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, April 20th. Bryan, Garnier & Co began coverage on MoonLake Immunotherapeutics in a research report on Thursday, February 2nd. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, March 6th.

MoonLake Immunotherapeutics Price Performance

MLTX stock opened at $28.54 on Tuesday. The business has a fifty day moving average price of $23.24 and a 200 day moving average price of $16.50. MoonLake Immunotherapeutics has a fifty-two week low of $4.48 and a fifty-two week high of $29.59. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -24.82 and a beta of 0.95.

MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Rating) last announced its quarterly earnings data on Monday, March 20th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.02. On average, equities analysts expect that MoonLake Immunotherapeutics will post -1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, major shareholder Bihua Chen acquired 588,589 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The shares were acquired at an average price of $19.71 per share, with a total value of $11,601,089.19. Following the purchase, the insider now owns 3,438,589 shares of the company’s stock, valued at approximately $67,774,589.19. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 15.27% of the stock is currently owned by company insiders.

Institutional Trading of MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of MoonLake Immunotherapeutics by 576.2% in the 1st quarter. JPMorgan Chase & Co. now owns 303,222 shares of the company’s stock valued at $6,486,000 after purchasing an additional 258,378 shares during the period. Jane Street Group LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the 1st quarter valued at about $557,000. Fred Alger Management LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the 1st quarter valued at about $2,287,000. Geode Capital Management LLC increased its position in shares of MoonLake Immunotherapeutics by 49.4% in the first quarter. Geode Capital Management LLC now owns 17,109 shares of the company’s stock valued at $366,000 after acquiring an additional 5,658 shares during the last quarter. Finally, Ally Bridge Group NY LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the first quarter valued at about $1,558,000. Institutional investors and hedge funds own 76.13% of the company’s stock.

MoonLake Immunotherapeutics Company Profile

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MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It is developing Sonelokimab, a novel investigational Nanobody therapy for the treatment of inflammation. The company is involved in conducting Phase II trials for hidradenitis suppurativa, psoriatic arthritis, ankylosing spondylitis, or radiographic axial spondyloarthritis.