MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $74.46.

Several analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. Stifel Nicolaus boosted their price target on shares of MoonLake Immunotherapeutics from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, December 18th. Wolfe Research assumed coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They set an “outperform” rating and a $77.00 price objective for the company. William Blair reaffirmed an “outperform” rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday.

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 4,740 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $55.89, for a total value of $264,918.60. Following the completion of the transaction, the chief executive officer now owns 2,982,814 shares of the company’s stock, valued at approximately $166,709,474.46. The transaction was disclosed in a filing with the SEC, which is available through this link. In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 4,740 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $55.89, for a total value of $264,918.60. Following the completion of the transaction, the chief executive officer now owns 2,982,814 shares of the company’s stock, valued at approximately $166,709,474.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kristian Reich sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $62.43, for a total transaction of $624,300.00. Following the completion of the transaction, the insider now directly owns 130,071 shares of the company’s stock, valued at approximately $8,120,332.53. The disclosure for this sale can be found here. Insiders sold a total of 166,981 shares of company stock valued at $9,490,674 in the last quarter. Corporate insiders own 15.27% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of MLTX. Osaic Holdings Inc. boosted its stake in shares of MoonLake Immunotherapeutics by 956.6% in the 2nd quarter. Osaic Holdings Inc. now owns 803 shares of the company’s stock valued at $41,000 after purchasing an additional 727 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at $47,000. Quarry LP purchased a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $51,000. Goldman Sachs Group Inc. purchased a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at $62,000. Finally, Bank of America Corp DE purchased a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $83,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Down 1.1 %

NASDAQ MLTX opened at $45.65 on Friday. The company’s 50 day moving average is $51.80 and its 200-day moving average is $52.69. MoonLake Immunotherapeutics has a 12-month low of $17.82 and a 12-month high of $64.98. The firm has a market cap of $2.92 billion, a P/E ratio of -60.06 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.11. Equities analysts expect that MoonLake Immunotherapeutics will post -1.11 EPS for the current year.

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.