MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target Raised to $30.00

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price objective lifted by stock analysts at BTIG Research from $24.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 60.60% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada boosted their price objective on shares of MoonLake Immunotherapeutics from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday. HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, February 3rd. Zacks Research downgraded MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. The Goldman Sachs Group cut MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and upped their target price for the company from $8.00 to $10.00 in a report on Wednesday, January 14th. Finally, Citigroup downgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of “Hold” and an average price target of $26.77.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $18.68 on Monday. The stock’s 50-day moving average is $15.32 and its 200-day moving average is $23.85. The stock has a market cap of $1.20 billion, a P/E ratio of -5.63 and a beta of 1.20. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The company has a current ratio of 8.50, a quick ratio of 8.50 and a debt-to-equity ratio of 0.25.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, February 25th. The company reported ($0.97) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.97). During the same quarter in the prior year, the business earned ($0.72) EPS. Equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Da Silva Jorge Santos sold 70,000 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $14.49, for a total value of $1,014,300.00. Following the completion of the sale, the chief executive officer directly owned 2,878,577 shares of the company’s stock, valued at $41,710,580.73. The trade was a 2.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kristian Reich sold 72,908 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $14.43, for a total value of $1,052,062.44. The disclosure for this sale is available in the SEC filing. Insiders sold 402,908 shares of company stock valued at $5,987,162 over the last 90 days. Corporate insiders own 12.05% of the company’s stock.

Institutional Inflows and Outflows

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