MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Up 8.5% – Time to Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX) shares rose 8.5% during trading on Tuesday . The stock traded as high as $16.97 and last traded at $17.1030. Approximately 637,267 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 2,723,124 shares. The stock had previously closed at $15.77.

Analyst Ratings Changes

A number of research firms have issued reports on MLTX. Citigroup cut shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a report on Wednesday, October 29th. BTIG Research restated a “buy” rating and issued a $24.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, February 9th. Oppenheimer restated an “outperform” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 6th. HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, February 3rd. Finally, Zacks Research cut MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.77.

MoonLake Immunotherapeutics Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 8.50 and a quick ratio of 8.50. The company has a market capitalization of $1.17 billion, a PE ratio of -5.47 and a beta of 1.21. The stock has a 50-day simple moving average of $15.16 and a 200 day simple moving average of $24.73.

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 130,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $15.08, for a total transaction of $1,960,400.00. Following the transaction, the insider owned 72,908 shares in the company, valued at $1,099,452.64. The trade was a 64.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Da Silva Jorge Santos sold 130,000 shares of MoonLake Immunotherapeutics stock in a transaction on Monday, December 8th. The stock was sold at an average price of $15.08, for a total transaction of $1,960,400.00. Following the completion of the sale, the chief executive officer owned 2,948,577 shares of the company’s stock, valued at approximately $44,464,541.16. This trade represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 402,908 shares of company stock worth $5,987,162 in the last 90 days. 12.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC bought a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter valued at approximately $26,000. FNY Investment Advisers LLC bought a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at approximately $28,000. Bank of America Corp DE raised its holdings in shares of MoonLake Immunotherapeutics by 64.7% in the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock worth $32,000 after buying an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MoonLake Immunotherapeutics by 115.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock worth $42,000 after buying an additional 3,166 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in MoonLake Immunotherapeutics by 45.4% in the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after buying an additional 1,069 shares in the last quarter. Institutional investors and hedge funds 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.