BTIG Research Reiterates Buy Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reissued by equities research analysts at BTIG Research in a research note issued to investors on Monday, Marketbeat.com reports. They currently have a $24.00 price target on the stock. BTIG Research’s price objective suggests a potential upside of 53.65% from the company’s current price.

A number of other research analysts also recently commented on the company. The Goldman Sachs Group downgraded MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and increased their price target for the company from $8.00 to $10.00 in a report on Wednesday, January 14th. UBS Group set a $24.00 target price on MoonLake Immunotherapeutics in a research report on Friday, January 9th. Citigroup downgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 29th. Zacks Research lowered shares of MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Finally, Oppenheimer reiterated an “outperform” rating and set a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 6th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.77.

MoonLake Immunotherapeutics Stock Performance

MoonLake Immunotherapeutics stock opened at $15.62 on Monday. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 8.50 and a quick ratio of 8.50. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -4.70 and a beta of 1.21. The firm’s fifty day moving average price is $14.85 and its 200 day moving average price is $26.08.

Insiders Place Their Bets

In other news, CEO Da Silva Jorge Santos sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $14.49, for a total value of $1,014,300.00. Following the transaction, the chief executive officer directly owned 2,878,577 shares in the company, valued at approximately $41,710,580.73. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kristian Reich sold 72,908 shares of MoonLake Immunotherapeutics stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $14.43, for a total transaction of $1,052,062.44. The disclosure for this sale is available in the SEC filing. Insiders have sold 402,908 shares of company stock worth $5,987,162 over the last three months. 12.05% of the stock is owned by corporate insiders.

Institutional Trading of MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. boosted its position in MoonLake Immunotherapeutics by 17.8% during the 2nd quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock valued at $53,715,000 after purchasing an additional 171,932 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in MoonLake Immunotherapeutics in the third quarter worth $6,922,000. Hood River Capital Management LLC lifted its stake in MoonLake Immunotherapeutics by 1.9% in the second quarter. Hood River Capital Management LLC now owns 675,445 shares of the company’s stock valued at $31,881,000 after buying an additional 12,462 shares during the last quarter. Vestal Point Capital LP boosted its holdings in shares of MoonLake Immunotherapeutics by 175.0% during the second quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock valued at $25,960,000 after acquiring an additional 350,000 shares during the period. Finally, Jefferies Financial Group Inc. grew its position in shares of MoonLake Immunotherapeutics by 1,900.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 500,000 shares of the company’s stock worth $6,590,000 after acquiring an additional 475,000 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immunomodulatory therapies for autoimmune and inflammatory diseases. The company leverages a proprietary platform designed to selectively modulate key immune cell populations, aiming to restore immune balance and reduce tissue damage with targeted biologic candidates.

Its lead asset, MLTX101, is a recombinant immune cell modulator in clinical development for myositis, including inclusion body myositis and dermatomyositis.