MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report sent to investors on Tuesday, Benzinga reports. HC Wainwright currently has a $100.00 target price on the stock.

Other analysts have also issued reports about the company. William Blair restated an outperform rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Wedbush restated an outperform rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. Needham & Company LLC restated a buy rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 9th. Wolfe Research began coverage on MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They issued an outperform rating and a $77.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They issued a neutral rating and a $62.00 target price 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 data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $74.46.

MoonLake Immunotherapeutics Price Performance

MoonLake Immunotherapeutics stock opened at $42.49 on Tuesday. The stock has a fifty day moving average price of $48.23 and a two-hundred day moving average price of $51.68. MoonLake Immunotherapeutics has a 52-week low of $20.29 and a 52-week high of $64.98. The firm has a market capitalization of $2.71 billion, a P/E ratio of -55.91 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data 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. On average, equities research analysts predict that MoonLake Immunotherapeutics will post -1.11 EPS for the current fiscal year.

Insider Activity at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 10,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $62.43, for a total value of $624,300.00. Following the sale, the insider now 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 can be accessed 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 stock was sold at an average price of $55.89, for a total transaction of $264,918.60. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $624,300.00. Following the transaction, the insider now directly owns 130,071 shares in the company, valued at $8,120,332.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 166,981 shares of company stock valued at $9,490,674. 15.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP bought a new stake in MoonLake Immunotherapeutics in the 4th quarter valued at $51,000. PNC Financial Services Group Inc. raised its holdings in shares of MoonLake Immunotherapeutics by 50.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock worth $371,000 after buying an additional 2,067 shares in the last quarter. Barclays PLC acquired a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter worth $189,000. Stratos Wealth Partners LTD. acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter worth $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter worth $217,000. 93.85% of the stock is owned by institutional investors and hedge funds.

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.