MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a $100.00 price objective on the stock.

Other equities analysts also recently issued research reports about the company. William Blair restated an outperform rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, February 26th. The Goldman Sachs Group assumed coverage on MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They set a neutral rating and a $62.00 price objective for the company. Wolfe Research began coverage on shares of MoonLake Immunotherapeutics in a report on Thursday, February 15th. They issued an outperform rating and a $77.00 target price on the stock. Needham & Company LLC reiterated a buy rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Wednesday. Finally, Wedbush restated an outperform rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, MoonLake Immunotherapeutics currently has a consensus rating of Moderate Buy and a consensus target price of $74.46.

MoonLake Immunotherapeutics Stock Down 1.5 %

MoonLake Immunotherapeutics stock traded down $0.66 on Wednesday, hitting $41.97. The company’s stock had a trading volume of 151,048 shares, compared to its average volume of 436,814. MoonLake Immunotherapeutics has a one year low of $24.31 and a one year high of $64.98. The firm has a market cap of $2.68 billion, a P/E ratio of -56.09 and a beta of 1.29. The company has a fifty day moving average price of $46.03 and a 200-day moving average price of $50.77.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Tuesday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). Analysts anticipate that MoonLake Immunotherapeutics will post -1.11 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Da Silva Jorge Santos sold 4,740 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $55.89, for a total value of $264,918.60. Following the transaction, the chief executive officer now owns 2,982,814 shares of the company’s stock, valued at approximately $166,709,474.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Kristian Reich sold 10,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $60.15, for a total value of $601,500.00. Following the completion of the sale, the insider now owns 110,071 shares in the company, valued at $6,620,770.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Da Silva Jorge Santos sold 4,740 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $55.89, for a total value of $264,918.60. Following the transaction, the chief executive officer now owns 2,982,814 shares in the company, valued at approximately $166,709,474.46. The disclosure for this sale can be found here. In the last three months, insiders sold 166,981 shares of company stock valued at $9,490,674. 15.27% of the stock is currently owned by insiders.

Institutional Trading of MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in MoonLake Immunotherapeutics during the fourth quarter valued at approximately $51,000. Barclays PLC bought a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $189,000. Stratos Wealth Partners LTD. acquired a new stake in MoonLake Immunotherapeutics during the 4th quarter worth $202,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in MoonLake Immunotherapeutics during the fourth quarter worth about $217,000. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in MoonLake Immunotherapeutics in the third quarter valued at about $246,000. 93.85% of the stock is owned by 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.