MoonLake Immunotherapeutics (NASDAQ:MLTX) Rating Lowered to Underperform at Wolfe Research

Wolfe Research downgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) from an outperform rating to an underperform rating in a research note released on Tuesday, Marketbeat Ratings reports.

MLTX has been the subject of a number of other reports. BTIG Research cut MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating and set a $85.00 price target for the company. in a research note on Monday. The Goldman Sachs Group upped their price target on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Stifel Nicolaus cut MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $13.00 target price for the company. in a research note on Monday. Jefferies Financial Group cut MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a research note on Monday. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $10.00 target price (down from $67.00) on shares of MoonLake Immunotherapeutics in a research note on Monday. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $7.46 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 16.65 and a quick ratio of 16.65. The stock has a market cap of $479.16 million, a PE ratio of -2.68 and a beta of 1.11. The stock has a 50-day moving average of $50.88 and a 200-day moving average of $45.26. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75.

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

Insider Buying and Selling at MoonLake Immunotherapeutics

In other news, major shareholder Bihua Chen sold 6,494,151 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $7.21, for a total transaction of $46,822,828.71. Following the completion of the transaction, the insider directly owned 2,000,000 shares of the company’s stock, valued at $14,420,000. This trade represents a 76.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently made changes to their positions in MLTX. Deutsche Bank AG grew 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 worth $49,000 after acquiring an additional 338 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of MoonLake Immunotherapeutics during the 2nd quarter worth approximately $74,000. US Bancorp DE grew its stake in shares of MoonLake Immunotherapeutics by 114.4% during the 1st quarter. US Bancorp DE now owns 2,208 shares of the company’s stock worth $86,000 after acquiring an additional 1,178 shares in the last quarter. Quarry LP bought a new position in shares of MoonLake Immunotherapeutics during the 1st quarter worth approximately $94,000. Finally, Advisors Asset Management Inc. grew its stake in shares of MoonLake Immunotherapeutics by 81.7% during the 1st quarter. Advisors Asset Management Inc. now owns 4,009 shares of the company’s stock worth $157,000 after acquiring an additional 1,803 shares in the last quarter. 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.