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

MoonLake Immunotherapeutics (NASDAQ:MLTX) has been assigned an average rating of “Hold” from the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $23.8462.

MLTX has been the topic of a number of recent analyst reports. Wolfe Research raised shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and raised their price target for the company from $12.00 to $24.00 in a report on Monday, March 23rd. Royal Bank Of Canada raised their price target 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. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price target on shares of MoonLake Immunotherapeutics in a report on Monday, June 8th. Rothschild & Co Redburn raised shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their price target for the company from $12.00 to $40.00 in a report on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX opened at $19.21 on Friday. The firm’s 50-day moving average price is $17.96 and its 200-day moving average price is $16.64. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.41 billion, a PE ratio of -4.96 and a beta of 1.04. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). As a group, analysts anticipate that MoonLake Immunotherapeutics will post -3.71 EPS for the current year.

Insider Activity

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 value of $62,962,500.00. Following the transaction, the director owned 1,039,238 shares of the company’s stock, valued at approximately $17,448,806.02. This trade represents a 78.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Da Silva Jorge Santos sold 51,873 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $18.23, for a total transaction of $945,644.79. Following the completion of the transaction, the chief executive officer directly owned 2,924,893 shares in the company, valued at approximately $53,320,799.39. The trade was a 1.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,000,000 shares of company stock valued at $67,630,663 in the last 90 days. 12.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Avidity Partners Management LP purchased a new position in shares of MoonLake Immunotherapeutics in the first quarter worth approximately $932,000. Bank of America Corp DE boosted its holdings in shares of MoonLake Immunotherapeutics by 5,255.8% in the first quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock worth $13,510,000 after buying an additional 711,261 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of MoonLake Immunotherapeutics by 64.7% in the first quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock worth $64,304,000 after buying an additional 1,355,640 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of MoonLake Immunotherapeutics by 221.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock worth $53,000 after buying an additional 1,974 shares during the last quarter. Finally, Readystate Asset Management LP purchased a new position in shares of MoonLake Immunotherapeutics in the first quarter worth approximately $2,689,000. 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.