MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Rating Reaffirmed by HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $100.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 135.68% from the stock’s previous close.

Other analysts have also issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 9th. Wolfe Research initiated coverage on MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They issued an “outperform” rating and a $77.00 price target for the company. Wedbush reiterated an “outperform” rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. William Blair restated an “outperform” rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Finally, The Goldman Sachs Group began coverage on MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 target price for the company. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.46.

MoonLake Immunotherapeutics Trading Down 1.9 %

Shares of MLTX opened at $42.43 on Tuesday. The firm has a market capitalization of $2.71 billion, a P/E ratio of -55.51 and a beta of 1.20. The stock’s fifty day simple moving average is $48.98 and its 200 day simple moving average is $51.81. MoonLake Immunotherapeutics has a twelve month low of $19.80 and a twelve month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.11. Sell-side analysts predict that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current year.

Insider Transactions at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 4,740 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $55.89, for a total transaction of $264,918.60. Following the transaction, the chief executive officer now directly owns 2,982,814 shares of the company’s stock, valued at $166,709,474.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Da Silva Jorge Santos sold 4,740 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $55.89, for a total value of $264,918.60. Following the sale, the chief executive officer now directly owns 2,982,814 shares of the company’s stock, valued at $166,709,474.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kristian Reich sold 29,431 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total transaction of $1,618,705.00. Following the completion of the sale, the insider now owns 70,071 shares of the company’s stock, valued at approximately $3,853,905. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 166,981 shares of company stock valued at $9,490,674. 15.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLTX. Adage Capital Partners GP L.L.C. increased its holdings in shares of MoonLake Immunotherapeutics by 42.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,952,703 shares of the company’s stock worth $111,304,000 after buying an additional 580,375 shares in the last quarter. Avoro Capital Advisors LLC grew its holdings in MoonLake Immunotherapeutics by 29.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock worth $155,806,000 after acquiring an additional 580,001 shares during the period. Finepoint Capital LP grew its holdings in MoonLake Immunotherapeutics by 170.1% during the 4th quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock worth $54,049,000 after acquiring an additional 563,584 shares during the period. TimesSquare Capital Management LLC grew its holdings in MoonLake Immunotherapeutics by 1,270.7% during the 3rd quarter. TimesSquare Capital Management LLC now owns 411,215 shares of the company’s stock worth $23,439,000 after acquiring an additional 381,215 shares during the period. Finally, Avidity Partners Management LP grew its holdings in MoonLake Immunotherapeutics by 94.3% during the 3rd quarter. Avidity Partners Management LP now owns 777,172 shares of the company’s stock worth $44,299,000 after acquiring an additional 377,172 shares during the period. 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.