HC Wainwright Reiterates Buy Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They currently have a $100.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 127.74% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus boosted their price objective on shares of MoonLake Immunotherapeutics from $66.00 to $69.00 and gave the company a “buy” rating in a report on Monday, December 18th. Wedbush reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday. Wolfe Research started coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They set an “outperform” rating and a $77.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 price target for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.46.

MoonLake Immunotherapeutics Stock Down 3.8 %

Shares of MoonLake Immunotherapeutics stock opened at $43.91 on Thursday. The company has a market cap of $2.81 billion, a P/E ratio of -57.78 and a beta of 1.20. The firm’s 50 day moving average price is $51.57 and its 200-day moving average price is $52.63. MoonLake Immunotherapeutics has a 52-week low of $17.82 and a 52-week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.11. As a group, equities research analysts forecast that MoonLake Immunotherapeutics will post -1.11 EPS for the current fiscal year.

Insider Activity at MoonLake Immunotherapeutics

In related news, CEO Da Silva Jorge Santos sold 62,810 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total value of $3,454,550.00. Following the completion of the transaction, the chief executive officer now owns 3,043,619 shares in the company, valued at $167,399,045. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $62.43, for a total value of $624,300.00. Following the sale, the insider now directly owns 130,071 shares of the company’s stock, valued at approximately $8,120,332.53. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Da Silva Jorge Santos sold 62,810 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total transaction of $3,454,550.00. Following the completion of the sale, the chief executive officer now owns 3,043,619 shares in the company, valued at $167,399,045. The disclosure for this sale can be found here. Insiders sold 166,981 shares of company stock worth $9,490,674 in the last three months. 15.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several large investors have recently bought and sold shares of MLTX. FMR LLC boosted its position in shares of MoonLake Immunotherapeutics by 0.6% during the 3rd quarter. FMR LLC now owns 3,397,253 shares of the company’s stock worth $193,643,000 after acquiring an additional 19,508 shares in the last quarter. Citadel Advisors LLC purchased a new position in MoonLake Immunotherapeutics in the second quarter valued at approximately $13,916,000. Avoro Capital Advisors LLC increased its stake in MoonLake Immunotherapeutics by 29.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock valued at $155,806,000 after purchasing an additional 580,001 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in MoonLake Immunotherapeutics by 9.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock worth $139,744,000 after purchasing an additional 196,144 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of MoonLake Immunotherapeutics by 42.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,952,703 shares of the company’s stock worth $111,304,000 after buying an additional 580,375 shares during the last quarter. 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.