Royal Bank Of Canada Reiterates Sector Perform Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

Royal Bank Of Canada restated their sector perform rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report report published on Monday morning, Marketbeat Ratings reports. Royal Bank Of Canada currently has a $10.00 price objective on the stock, down from their prior price objective of $67.00.

A number of other analysts have also recently weighed in on MLTX. Redburn Atlantic raised shares of MoonLake Immunotherapeutics to a “hold” rating in a research report on Monday, July 28th. Rothschild & Co Redburn began coverage on MoonLake Immunotherapeutics in a research report on Monday, July 28th. They issued a “neutral” rating and a $65.00 target price for the company. The Goldman Sachs Group increased their target price on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Finally, BTIG Research lowered MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research report on Monday. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.00.

MoonLake Immunotherapeutics Stock Down 1.5%

Shares of NASDAQ:MLTX opened at $7.06 on Monday. The stock has a 50-day simple moving average of $51.83 and a 200-day simple moving average of $45.48. The stock has a market capitalization of $453.46 million, a P/E ratio of -2.54 and a beta of 1.11. MoonLake Immunotherapeutics has a 1 year low of $5.95 and a 1 year high of $62.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 16.65 and a current ratio of 16.65.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.14). During the same quarter in the previous year, the business earned ($0.39) EPS. Equities analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Insider Activity at MoonLake Immunotherapeutics

In related news, major shareholder Bihua Chen sold 6,494,151 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $7.21, for a total value of $46,822,828.71. Following the completion of the transaction, the insider owned 2,000,000 shares of the company’s stock, valued at approximately $14,420,000. This represents a 76.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 12.02% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently made changes to their positions in the business. Deutsche Bank AG boosted its stake in shares of MoonLake Immunotherapeutics by 59.8% during the 4th quarter. Deutsche Bank AG now owns 903 shares of the company’s stock valued at $49,000 after buying an additional 338 shares during the last quarter. Geode Capital Management LLC boosted its stake in MoonLake Immunotherapeutics by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock valued at $2,809,000 after acquiring an additional 559 shares during the last quarter. Squarepoint Ops LLC boosted its stake in MoonLake Immunotherapeutics by 3.7% during the 2nd quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock valued at $829,000 after acquiring an additional 629 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in MoonLake Immunotherapeutics by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,200 shares of the company’s stock worth $359,000 after acquiring an additional 700 shares in the last quarter. Finally, MPM Bioimpact LLC grew its holdings in MoonLake Immunotherapeutics by 0.3% during the 1st quarter. MPM Bioimpact LLC now owns 316,049 shares of the company’s stock worth $12,348,000 after acquiring an additional 819 shares in the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

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.