MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $74.46 Average PT from Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $74.46.

A number of equities research analysts recently issued reports on the company. Wolfe Research assumed coverage on MoonLake Immunotherapeutics in a research report on Thursday, February 15th. They set an “outperform” rating and a $77.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, April 11th. William Blair restated an “outperform” rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. The Goldman Sachs Group started coverage on MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 9th.

Insider Activity at MoonLake Immunotherapeutics

In related news, CEO Da Silva Jorge Santos sold 62,810 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $55.00, for a total value of $3,454,550.00. Following the completion of the sale, the chief executive officer now directly owns 3,043,619 shares in the company, valued at $167,399,045. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Kristian Reich sold 10,000 shares of the stock in a transaction on 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 directly owns 110,071 shares in the company, valued at $6,620,770.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Da Silva Jorge Santos sold 62,810 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total value of $3,454,550.00. Following the completion of the sale, the chief executive officer now owns 3,043,619 shares of the company’s stock, valued at $167,399,045. The disclosure for this sale can be found here. Insiders sold 166,981 shares of company stock worth $9,490,674 over the last three months. Company insiders own 15.27% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Large investors have recently bought and sold shares of the business. Osaic Holdings Inc. grew its holdings in MoonLake Immunotherapeutics by 956.6% during the 2nd quarter. Osaic Holdings Inc. now owns 803 shares of the company’s stock worth $41,000 after acquiring an additional 727 shares during the period. Tower Research Capital LLC TRC acquired a new stake in MoonLake Immunotherapeutics during the 2nd quarter worth about $47,000. Quarry LP acquired a new stake in MoonLake Immunotherapeutics during the 4th quarter worth about $51,000. Goldman Sachs Group Inc. acquired a new stake in MoonLake Immunotherapeutics during the 2nd quarter worth about $62,000. Finally, Bank of America Corp DE acquired a new stake in MoonLake Immunotherapeutics during the 4th quarter worth about $83,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ:MLTX opened at $42.25 on Friday. The company has a market capitalization of $2.70 billion, a P/E ratio of -55.59 and a beta of 1.20. MoonLake Immunotherapeutics has a 1 year low of $19.80 and a 1 year high of $64.98. The business’s 50 day simple moving average is $50.26 and its 200 day simple moving average is $52.27.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.11. On average, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -1.11 EPS for the current fiscal year.

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.