Brokerages Set MoonLake Immunotherapeutics (NASDAQ:MLTX) Target Price at $24.21

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have earned an average recommendation of “Hold” from the seventeen ratings firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $24.5714.

MLTX has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Friday, August 7th. Leerink Partners lifted their target price on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. HC Wainwright upped their price target on MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday. BTIG Research reissued a “buy” rating and set a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Finally, Needham & Company LLC raised their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 68,289 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the sale, the chief executive officer directly owned 2,774,893 shares in the company, valued at $55,553,357.86. This represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $19.43, for a total transaction of $971,500.00. Following the sale, the insider directly owned 2,824,551 shares in the company, valued at approximately $54,881,025.93. The trade was a 1.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 344,800 shares of company stock valued at $6,820,071. Company insiders own 10.40% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

A number of institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter worth approximately $58,000. Avidity Partners Management LP purchased a new position in shares of MoonLake Immunotherapeutics in the 1st quarter valued at $932,000. Bank of America Corp DE grew its position in shares of MoonLake Immunotherapeutics by 5,255.8% in the 1st quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock valued at $13,510,000 after buying an additional 711,261 shares during the last quarter. Janus Henderson Group PLC raised its stake in MoonLake Immunotherapeutics by 64.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock worth $64,304,000 after acquiring an additional 1,355,640 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in MoonLake Immunotherapeutics by 221.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock worth $53,000 after acquiring an additional 1,974 shares in the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Stock Performance

MLTX opened at $16.47 on Monday. The stock has a market cap of $1.40 billion, a P/E ratio of -4.29 and a beta of 1.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 12.56 and a quick ratio of 8.60. The firm has a fifty day moving average price of $18.91 and a 200 day moving average price of $17.89. MoonLake Immunotherapeutics has a 1 year low of $5.95 and a 1 year high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.84) EPS for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.07. Equities research analysts anticipate that MoonLake Immunotherapeutics will post -3.27 earnings per share for the current year.

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.