MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Average Recommendation of “Hold” from Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been assigned a consensus recommendation of “Hold” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $28.50.

A number of analysts have commented on MLTX shares. HC Wainwright boosted their price target on shares of MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. BTIG Research reissued a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Leerink Partners upped their target price on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, Wall Street Zen cut shares of MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, September 27th.

Insider Buying and Selling

In related news, insider Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the transaction, the insider owned 2,714,746 shares of the company’s stock, valued at $54,349,214.92. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Silva 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 sale, the chief executive officer owned 2,774,893 shares of the company’s stock, valued at $55,553,357.86. This trade represents a 2.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 197,025 shares of company stock valued at $3,947,138 over the last three months. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several large investors have recently bought and sold shares of the stock. Engineers Gate Manager LP bought a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter worth $2,173,000. Integrated Wealth Concepts LLC bought a new position in shares of MoonLake Immunotherapeutics during the second quarter valued at about $39,000. Allworth Financial LP boosted its holdings in MoonLake Immunotherapeutics by 156.2% during the second quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,045 shares during the last quarter. Arizona State Retirement System purchased a new position in MoonLake Immunotherapeutics during the second quarter worth about $233,000. Finally, FNY Investment Advisers LLC bought a new stake in MoonLake Immunotherapeutics in the 2nd quarter worth about $58,000. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Trading Down 0.5%

NASDAQ MLTX opened at $11.41 on Tuesday. The company has a market cap of $971.11 million, a price-to-earnings ratio of -2.97 and a beta of 1.08. MoonLake Immunotherapeutics has a 52 week low of $7.50 and a 52 week high of $23.29. The business has a 50 day moving average price of $15.07 and a 200-day moving average price of $17.15. The company has a quick ratio of 12.56, a current ratio of 12.56 and a debt-to-equity ratio of 0.23.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Monday, August 10th. The company reported ($0.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.07. As a group, equities analysts expect that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current fiscal year.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for inflammatory and immunologic diseases. The company is headquartered in Zug, Switzerland, and its ordinary shares trade on the Nasdaq under the symbol MLTX.

MoonLake’s primary product candidate is sonelokimab, a novel Nanobody-based inhibitor designed to selectively target interleukin-17A and interleukin-17F, two cytokines involved in inflammation. The company is evaluating sonelokimab in conditions including hidradenitis suppurativa, psoriatic arthritis and axial spondyloarthritis, with the goal of addressing significant unmet needs in chronic inflammatory disease.

MoonLake was established to advance sonelokimab and related immunology programs and has developed its business around a Nanobody-based drug-development platform.