MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded at HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by stock analysts at HC Wainwright from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday,Benzinga reports. The firm presently has a $30.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 197.03% from the stock’s current price.

Several other research firms also recently issued reports on MLTX. BTIG Research downgraded shares of MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a report on Monday, September 29th. Guggenheim dropped their target price on shares of MoonLake Immunotherapeutics from $80.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, September 30th. Rothschild & Co Redburn began coverage on shares of MoonLake Immunotherapeutics in a research note on Monday, July 28th. They set a “neutral” rating and a $65.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of MoonLake Immunotherapeutics in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus lowered shares of MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $13.00 price objective on the stock. in a report on Monday, September 29th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.17.

MoonLake Immunotherapeutics Stock Up 3.0%

MoonLake Immunotherapeutics stock opened at $10.10 on Monday. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The business has a fifty day moving average price of $32.43 and a 200-day moving average price of $41.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 16.65 and a quick ratio of 16.65. The stock has a market capitalization of $648.72 million, a price-to-earnings ratio of -3.63 and a beta of 1.13.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.14). During the same quarter in the prior year, the firm posted ($0.39) earnings per share. Equities research analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Insider Activity at MoonLake Immunotherapeutics

In other news, major shareholder Bihua Chen sold 5,827 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $6.96, for a total value of $40,555.92. Following the sale, the insider owned 1,994,173 shares in the company, valued at $13,879,444.08. This represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of MoonLake Immunotherapeutics by 0.9% in the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after buying an additional 559 shares during the last quarter. Squarepoint Ops LLC lifted its holdings 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 period. PNC Financial Services Group Inc. boosted its position in MoonLake Immunotherapeutics by 8.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,200 shares of the company’s stock worth $359,000 after purchasing an additional 700 shares in the last quarter. MPM Bioimpact LLC grew its stake in shares of MoonLake Immunotherapeutics by 0.3% during the 1st quarter. MPM Bioimpact LLC now owns 316,049 shares of the company’s stock worth $12,348,000 after purchasing an additional 819 shares during the period. Finally, US Bancorp DE increased its holdings in shares of MoonLake Immunotherapeutics by 114.4% during the 1st quarter. US Bancorp DE now owns 2,208 shares of the company’s stock valued at $86,000 after purchasing an additional 1,178 shares in the last quarter. Hedge funds and other institutional investors 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.