MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Consensus Rating of “Hold” by Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been given a consensus recommendation of “Hold” by the sixteen analysts that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $23.8462.

MLTX has been the subject of several recent analyst reports. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and increased their price objective for the company from $12.00 to $24.00 in a report on Monday, March 23rd. Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $12.00 to $40.00 in a report on Thursday, March 19th. BTIG Research reiterated a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, March 30th. Royal Bank Of Canada increased their price objective on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Finally, HC Wainwright increased their price objective on shares of MoonLake Immunotherapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, May 11th.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX opened at $18.23 on Wednesday. The company has a 50-day moving average price of $17.47 and a two-hundred day moving average price of $15.92. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -4.71 and a beta of 1.01. MoonLake Immunotherapeutics has a 52 week low of $5.95 and a 52 week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.07). Analysts forecast that MoonLake Immunotherapeutics will post -3.71 EPS for the current year.

Insider Activity at MoonLake Immunotherapeutics

In related news, Director Bvf Partners L. P/Il sold 3,750,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $16.79, for a total transaction of $62,962,500.00. Following the completion of the sale, the director directly owned 1,039,238 shares in the company, valued at approximately $17,448,806.02. This trade represents a 78.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Da Silva Jorge Santos sold 98,127 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $18.41, for a total transaction of $1,806,518.07. Following the sale, the chief executive officer owned 2,976,766 shares of the company’s stock, valued at $54,802,262.06. The trade was a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,900,000 shares of company stock valued at $65,714,663 over the last quarter. Insiders own 12.02% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

A number of large investors have recently added to or reduced their stakes in MLTX. Cormorant Asset Management LP boosted its holdings in MoonLake Immunotherapeutics by 118.4% during the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after buying an additional 2,361,260 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in MoonLake Immunotherapeutics by 18,782.8% during the fourth quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock worth $27,657,000 after buying an additional 2,084,888 shares in the last quarter. Logos Global Management LP bought a new stake in MoonLake Immunotherapeutics during the fourth quarter worth approximately $23,065,000. Weiss Asset Management LP boosted its holdings in MoonLake Immunotherapeutics by 413.1% during the first quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock worth $31,843,000 after buying an additional 1,375,367 shares in the last quarter. Finally, Vivo Capital LLC bought a new stake in MoonLake Immunotherapeutics during the fourth quarter worth approximately $13,180,000. 93.85% of the stock is currently owned by institutional investors.

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.