MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target Raised to $12.00

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price target boosted by Royal Bank Of Canada from $10.00 to $12.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Citigroup downgraded MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 29th. Zacks Research lowered shares of MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. The Goldman Sachs Group downgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $8.00 to $10.00 in a research report on Wednesday, January 14th. UBS Group set a $24.00 price target on shares of MoonLake Immunotherapeutics in a research note on Friday, January 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, February 3rd. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of “Hold” and an average target price of $25.92.

MoonLake Immunotherapeutics Trading Up 3.3%

MoonLake Immunotherapeutics stock opened at $18.77 on Friday. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75. The company has a quick ratio of 8.50, a current ratio of 8.50 and a debt-to-equity ratio of 0.25. The stock has a market cap of $1.21 billion, a P/E ratio of -5.65 and a beta of 1.20. The company’s fifty day simple moving average is $15.24 and its 200-day simple moving average is $24.08.

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 70,000 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $14.49, for a total transaction of $1,014,300.00. Following the completion of the transaction, the chief executive officer owned 2,878,577 shares of the company’s stock, valued at $41,710,580.73. The trade was a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kristian Reich sold 72,908 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $14.43, for a total value of $1,052,062.44. The SEC filing for this sale provides additional information. Insiders sold 402,908 shares of company stock valued at $5,987,162 over the last 90 days. 12.05% of the stock is owned by corporate insiders.

Institutional Trading of MoonLake Immunotherapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter valued at approximately $26,000. FNY Investment Advisers LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the third quarter worth $28,000. Bank of America Corp DE increased its position in MoonLake Immunotherapeutics by 64.7% during the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock worth $32,000 after acquiring an additional 1,781 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in MoonLake Immunotherapeutics by 115.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock worth $42,000 after acquiring an additional 3,166 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in MoonLake Immunotherapeutics by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after purchasing an additional 1,069 shares during the last quarter. 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.