MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Average Recommendation of “Hold” by Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been assigned a consensus rating of “Hold” from the sixteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $23.8462.

Several research analysts recently issued reports on the stock. Royal Bank Of Canada increased their target price on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. BTIG Research reiterated a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Wolfe Research upgraded MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $24.00 in a report on Monday, March 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, June 8th.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total value of $971,500.00. Following the transaction, the insider directly owned 2,824,551 shares of the company’s stock, valued at approximately $54,881,025.93. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bvf Partners L. P/Il sold 3,750,000 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total value of $62,962,500.00. Following the completion of the sale, the director directly owned 1,039,238 shares of the company’s stock, valued at approximately $17,448,806.02. This trade represents a 78.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 4,000,000 shares of company stock valued at $67,630,663. Corporate insiders own 12.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MLTX. Millennium Management LLC boosted its position in shares of MoonLake Immunotherapeutics by 3,343.2% during the first quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock valued at $13,453,000 after buying an additional 334,320 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of MoonLake Immunotherapeutics by 0.9% during the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock valued at $2,809,000 after buying an additional 559 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of MoonLake Immunotherapeutics by 4,584.5% during the second quarter. JPMorgan Chase & Co. now owns 39,397 shares of the company’s stock valued at $1,860,000 after buying an additional 38,556 shares during the last quarter. Legal & General Group Plc boosted its position in shares of MoonLake Immunotherapeutics by 7.3% during the second quarter. Legal & General Group Plc now owns 20,905 shares of the company’s stock valued at $987,000 after buying an additional 1,425 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of MoonLake Immunotherapeutics during the second quarter valued at about $593,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Down 0.5%

Shares of NASDAQ MLTX opened at $19.90 on Friday. The firm has a market cap of $1.46 billion, a PE ratio of -5.14 and a beta of 1.04. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The company’s fifty day simple moving average is $18.17 and its 200 day simple moving average is $16.88. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Monday, May 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.07). As a group, sell-side analysts forecast that MoonLake Immunotherapeutics will post -3.71 earnings per share 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.