MoonLake Immunotherapeutics’ (MLTX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a report released on Monday morning, MarketBeat reports. They currently have a $50.00 price objective on the stock.

A number of other analysts have also recently issued reports on MLTX. Weiss Ratings raised MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. BTIG Research reissued a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Leerink Partners lifted their target price on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Wall Street Zen downgraded shares of MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, September 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Wednesday, September 16th. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.50.

MoonLake Immunotherapeutics Trading Down 0.3%

Shares of MoonLake Immunotherapeutics stock opened at $11.38 on Monday. The company has a current ratio of 12.56, a quick ratio of 12.56 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $14.90 and a 200-day simple moving average of $17.11. The stock has a market cap of $968.55 million, a price-to-earnings ratio of -2.96 and a beta of 1.08. MoonLake Immunotherapeutics has a 12-month low of $8.18 and a 12-month high of $23.29.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.84) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.07. On average, equities analysts forecast that MoonLake Immunotherapeutics will post -3.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $20.02, for a total value of $1,001,000.00. Following the completion of the sale, the insider owned 2,714,746 shares in the company, valued at approximately $54,349,214.92. This trade represents a 1.81% decrease in their position. The transaction was disclosed in a legal 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, CEO Silva Santos sold 68,289 shares of MoonLake Immunotherapeutics stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the completion of the sale, the chief executive officer directly owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. The trade was a 2.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 197,025 shares of company stock worth $3,947,138. 10.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cormorant Asset Management LP lifted its position in MoonLake Immunotherapeutics by 118.4% in the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock valued at $57,405,000 after purchasing an additional 2,361,260 shares during the period. Janus Henderson Group PLC increased its position in MoonLake Immunotherapeutics by 64.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock worth $64,304,000 after purchasing an additional 1,355,640 shares during the period. Weiss Asset Management LP increased its position in MoonLake Immunotherapeutics by 413.1% during the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock worth $31,843,000 after purchasing an additional 1,375,367 shares during the period. Candriam S.C.A. raised its stake in shares of MoonLake Immunotherapeutics by 509.0% during the 1st quarter. Candriam S.C.A. now owns 818,126 shares of the company’s stock worth $15,250,000 after buying an additional 683,797 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of MoonLake Immunotherapeutics by 5,255.8% in the 1st quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock valued at $13,510,000 after buying an additional 711,261 shares during the period. 93.85% of the stock is currently owned by institutional investors and hedge funds.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for inflammatory and immunologic diseases. The company is headquartered in Zug, Switzerland, and its ordinary shares trade on the Nasdaq under the symbol MLTX.

MoonLake’s primary product candidate is sonelokimab, a novel Nanobody-based inhibitor designed to selectively target interleukin-17A and interleukin-17F, two cytokines involved in inflammation. The company is evaluating sonelokimab in conditions including hidradenitis suppurativa, psoriatic arthritis and axial spondyloarthritis, with the goal of addressing significant unmet needs in chronic inflammatory disease.

MoonLake was established to advance sonelokimab and related immunology programs and has developed its business around a Nanobody-based drug-development platform.