MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Keeps “Buy” Rating at HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Monday, Marketbeat reports. They presently have a $50.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 356.62% from the stock’s previous close.

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

MoonLake Immunotherapeutics Stock Down 3.8%

Shares of NASDAQ:MLTX traded down $0.43 during trading on Monday, hitting $10.95. The company’s stock had a trading volume of 3,051,033 shares, compared to its average volume of 1,504,874. The business has a 50 day moving average price of $14.90 and a two-hundred day moving average price of $17.11. The company has a market capitalization of $931.95 million, a PE ratio of -2.85 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 12.56 and a current ratio of 12.56. MoonLake Immunotherapeutics has a fifty-two week low of $8.18 and a fifty-two week high of $23.29.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.07. As a group, research analysts expect that MoonLake Immunotherapeutics will post -3.34 EPS for the current fiscal year.

Insider Activity

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 2,714,746 shares in the company, valued at $54,349,214.92. This represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Silva Santos sold 68,289 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the sale, the chief executive officer owned 2,774,893 shares of the company’s stock, valued at $55,553,357.86. This represents a 2.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 197,025 shares of company stock worth $3,947,138 in the last three months. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP boosted its position in shares of MoonLake Immunotherapeutics by 156.2% in the 2nd quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock valued at $33,000 after purchasing an additional 1,045 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in MoonLake Immunotherapeutics in the second quarter valued at approximately $39,000. EverSource Wealth Advisors LLC boosted its holdings in shares of MoonLake Immunotherapeutics by 221.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock valued at $53,000 after acquiring an additional 1,974 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of MoonLake Immunotherapeutics during the second quarter worth approximately $58,000. Finally, Arizona State Retirement System acquired a new position in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at $233,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Company Profile

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.