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

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have earned a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $24.2143.

MLTX has been the subject of a number of research reports. Leerink Partners lifted their target price on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and upped their price target for the company from $12.00 to $24.00 in a research note on Monday, March 23rd. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, June 8th. BTIG Research reiterated a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Finally, Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $40.00 in a research note on Thursday, March 19th.

Insider Activity at MoonLake Immunotherapeutics

In other news, CEO Da Silva Jorge Santos sold 68,289 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $20.02, for a total value of $1,367,145.78. Following the completion of the sale, the chief executive officer directly owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. The trade was a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total value of $971,500.00. Following the completion of the sale, the insider owned 2,824,551 shares of the company’s stock, valued at approximately $54,881,025.93. This trade represents a 1.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 250,000 shares of company stock worth $4,919,138 over the last ninety days. Insiders own 12.02% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in MoonLake Immunotherapeutics by 0.9% in the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock valued at $2,809,000 after buying an additional 559 shares in the last quarter. Squarepoint Ops LLC grew its position in MoonLake Immunotherapeutics by 3.7% in the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock valued at $829,000 after acquiring an additional 629 shares during the last quarter. Axiom Investors LLC DE raised its stake in MoonLake Immunotherapeutics by 3.2% during the fourth quarter. Axiom Investors LLC DE now owns 25,998 shares of the company’s stock worth $343,000 after acquiring an additional 818 shares in the last quarter. Russell Investments Group Ltd. raised its stake in MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after acquiring an additional 1,069 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of MoonLake Immunotherapeutics by 18.9% in the third quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock worth $52,000 after acquiring an additional 1,158 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $19.96 on Thursday. The stock has a market cap of $1.47 billion, a P/E ratio of -5.16 and a beta of 1.04. The stock has a 50 day simple moving average of $18.78 and a 200 day simple moving average of $17.38. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results 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). Research analysts anticipate that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current year.

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.