HC Wainwright Cuts MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target to $26.00

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price objective trimmed by HC Wainwright from $30.00 to $26.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

MLTX has been the subject of several other reports. Oppenheimer reaffirmed an “outperform” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $7.00 price target on shares of MoonLake Immunotherapeutics in a research note on Wednesday, October 1st. Jefferies Financial Group lowered shares of MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a report on Monday, September 29th. Citigroup downgraded MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a report on Wednesday, October 29th. Finally, Redburn Atlantic raised MoonLake Immunotherapeutics to a “hold” rating in a research report on Monday, July 28th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.25.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX stock opened at $12.67 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 8.50 and a current ratio of 8.50. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. The firm has a market cap of $813.79 million, a P/E ratio of -3.82 and a beta of 1.13. The business’s 50 day moving average price is $19.05 and its 200-day moving average price is $38.35.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Wednesday, November 5th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.21). During the same quarter in the prior year, the company posted ($0.56) earnings per share. On average, equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Insider Activity

In other news, major shareholder Bihua Chen sold 6,494,151 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $7.21, for a total transaction of $46,822,828.71. Following the completion of the transaction, the insider directly owned 2,000,000 shares in the company, valued at approximately $14,420,000. This trade represents a 76.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.05% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in MoonLake Immunotherapeutics by 0.9% in the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after acquiring an additional 559 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of MoonLake Immunotherapeutics by 3.7% in the 2nd quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock worth $829,000 after purchasing an additional 629 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in MoonLake Immunotherapeutics by 8.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,200 shares of the company’s stock worth $359,000 after purchasing an additional 700 shares in the last quarter. MPM Bioimpact LLC grew its position in MoonLake Immunotherapeutics by 0.3% during the 1st quarter. MPM Bioimpact LLC now owns 316,049 shares of the company’s stock valued at $12,348,000 after purchasing an additional 819 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in MoonLake Immunotherapeutics by 18.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock valued at $52,000 after purchasing an additional 1,158 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

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.