FY2029 Earnings Forecast for MLTX Issued By Wedbush

MoonLake Immunotherapeutics (NASDAQ:MLTX) – Analysts at Wedbush decreased their FY2029 EPS estimates for MoonLake Immunotherapeutics in a research note issued to investors on Wednesday, November 5th. Wedbush analyst Y. Zhong now expects that the company will post earnings of $3.29 per share for the year, down from their previous forecast of $3.60. Wedbush has a “Outperform” rating and a $18.00 price objective on the stock. The consensus estimate for MoonLake Immunotherapeutics’ current full-year earnings is ($1.79) per share.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.21). During the same period in the prior year, the business earned ($0.56) earnings per share.

Several other analysts also recently weighed in on MLTX. HC Wainwright upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Monday. Stifel Nicolaus lowered MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $13.00 price target for the company. in a report on Monday, September 29th. Needham & Company LLC lowered their price objective on shares of MoonLake Immunotherapeutics from $66.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, September 30th. Redburn Atlantic upgraded shares of MoonLake Immunotherapeutics to a “hold” rating in a research note on Monday, July 28th. Finally, Oppenheimer reissued an “outperform” rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.58.

MoonLake Immunotherapeutics Stock Performance

Shares of MoonLake Immunotherapeutics stock traded down $0.22 on Friday, reaching $10.08. The stock had a trading volume of 659,771 shares, compared to its average volume of 1,705,509. The company has a debt-to-equity ratio of 0.21, a quick ratio of 16.65 and a current ratio of 16.65. The business’s 50-day moving average price is $28.87 and its two-hundred day moving average price is $40.49. The stock has a market cap of $647.12 million, a P/E ratio of -3.03 and a beta of 1.13. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, major shareholder Bihua Chen sold 6,494,151 shares of the firm’s stock in a transaction dated 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 owned 2,000,000 shares in the company, valued at $14,420,000. This trade represents a 76.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Elevation Point Wealth Partners LLC bought a new stake in MoonLake Immunotherapeutics in the second quarter valued at $74,000. US Bancorp DE boosted its stake in shares of MoonLake Immunotherapeutics by 114.4% in the 1st quarter. US Bancorp DE now owns 2,208 shares of the company’s stock valued at $86,000 after purchasing an additional 1,178 shares in the last quarter. Quarry LP bought a new stake in shares of MoonLake Immunotherapeutics in the 1st quarter worth about $94,000. Advisors Asset Management Inc. grew its holdings in shares of MoonLake Immunotherapeutics by 81.7% in the 1st quarter. Advisors Asset Management Inc. now owns 4,009 shares of the company’s stock worth $157,000 after purchasing an additional 1,803 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new stake in shares of MoonLake Immunotherapeutics during the 1st quarter worth about $240,000. Institutional investors own 93.85% of the company’s stock.

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.