MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target Raised to $50.00

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price target upped by HC Wainwright from $45.00 to $50.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on MLTX. 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. Needham & Company LLC boosted their target price on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Leerink Partners boosted 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. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research note on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of “Hold” and a consensus price target of $24.57.

MoonLake Immunotherapeutics Stock Down 0.2%

MoonLake Immunotherapeutics stock opened at $16.47 on Thursday. The company has a market capitalization of $1.40 billion, a PE ratio of -4.29 and a beta of 1.06. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The firm’s fifty day moving average is $18.91 and its 200 day moving average is $17.89. The company has a quick ratio of 8.60, a current ratio of 12.56 and a debt-to-equity ratio of 0.23.

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

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 50,000 shares of the business’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total value of $1,001,000.00. Following the transaction, the insider owned 2,714,746 shares of the company’s stock, valued at approximately $54,349,214.92. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Da Silva Jorge Santos sold 68,289 shares of the business’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 completion of the transaction, the chief executive officer directly owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 344,800 shares of company stock worth $6,820,071 over the last quarter. 10.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in MLTX. Kestra Advisory Services LLC purchased a new stake in MoonLake Immunotherapeutics during the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its stake in MoonLake Immunotherapeutics by 221.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock valued at $53,000 after acquiring an additional 1,974 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in MoonLake Immunotherapeutics in the second quarter valued at about $58,000. Russell Investments Group Ltd. grew its position in shares of MoonLake Immunotherapeutics by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after acquiring an additional 1,069 shares during the period. Finally, T. Rowe Price Investment Management Inc. bought a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at approximately $47,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.