MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target Cut to $26.00 by Analysts at HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price objective dropped by research analysts at HC Wainwright from $30.00 to $26.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 100.00% from the stock’s previous close.

A number of other brokerages have also recently issued reports on MLTX. Jefferies Financial Group cut shares of MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a report on Monday, September 29th. Citigroup downgraded MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 29th. Guggenheim lowered their price objective on MoonLake Immunotherapeutics from $80.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, September 30th. Needham & Company LLC reduced their target price on MoonLake Immunotherapeutics from $66.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, September 30th. Finally, Wolfe Research cut MoonLake Immunotherapeutics from an “outperform” rating to an “underperform” rating in a research report on Tuesday, September 30th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.25.

MoonLake Immunotherapeutics Trading Down 4.0%

NASDAQ:MLTX opened at $13.00 on Friday. The company has a market capitalization of $834.99 million, a P/E ratio of -3.92 and a beta of 1.13. The stock’s 50 day moving average price is $19.85 and its 200 day moving average price is $38.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 8.50 and a current ratio of 8.50. MoonLake Immunotherapeutics has a 52 week low of $5.95 and a 52 week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, November 5th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.21). During the same quarter in the previous year, the business posted ($0.56) EPS. On average, research analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Insider Buying and Selling at MoonLake Immunotherapeutics

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of MoonLake Immunotherapeutics by 0.9% in the second 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 period. Squarepoint Ops LLC raised 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 purchasing an additional 629 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in MoonLake Immunotherapeutics by 8.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,200 shares of the company’s stock valued at $359,000 after purchasing an additional 700 shares during the period. MPM Bioimpact LLC boosted its holdings in MoonLake Immunotherapeutics by 0.3% in the 1st quarter. MPM Bioimpact LLC now owns 316,049 shares of the company’s stock valued at $12,348,000 after purchasing an additional 819 shares during the period. Finally, BNP Paribas Financial Markets grew its position in MoonLake Immunotherapeutics by 18.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock worth $52,000 after purchasing an additional 1,158 shares during 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.