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

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued on Monday, Marketbeat reports. They presently have a $45.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 124.33% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. BTIG Research reaffirmed a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Wolfe Research raised shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $12.00 to $24.00 in a research note on Monday, March 23rd. Leerink Partners boosted their target price on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Finally, Needham & Company LLC increased their price target on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of “Hold” and an average target price of $24.21.

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX opened at $20.06 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60. The stock’s fifty day moving average is $18.91 and its two-hundred day moving average is $17.55. The firm has a market capitalization of $1.48 billion, a P/E ratio of -5.18 and a beta of 1.04. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its 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). On average, research analysts anticipate that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Da Silva Jorge Santos sold 68,289 shares of the company’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $20.02, for a total value of $1,367,145.78. Following the transaction, the chief executive officer owned 2,774,893 shares of the company’s stock, valued at $55,553,357.86. This represents a 2.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $19.43, for a total value of $971,500.00. Following the transaction, the insider owned 2,824,551 shares of the company’s stock, valued at approximately $54,881,025.93. This represents a 1.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 250,000 shares of company stock worth $4,919,138 in the last 90 days. Company insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MLTX. Cormorant Asset Management LP boosted its stake 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 during the period. Janus Henderson Group PLC raised its stake in shares of MoonLake Immunotherapeutics by 64.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock valued at $64,304,000 after acquiring an additional 1,355,640 shares during the period. Logos Global Management LP purchased a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at approximately $23,065,000. Weiss Asset Management LP lifted its holdings in shares of MoonLake Immunotherapeutics by 413.1% in the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock worth $31,843,000 after acquiring an additional 1,375,367 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of MoonLake Immunotherapeutics by 17.8% in the 2nd quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock worth $53,715,000 after acquiring an additional 171,932 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.