MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) from a strong sell rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also weighed in on the stock. Weiss Ratings raised shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. BTIG Research reaffirmed a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Leerink Partners upped their price target on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. HC Wainwright increased their price target on shares of MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Wednesday, September 16th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.57.

MoonLake Immunotherapeutics Stock Up 1.3%

MLTX stock opened at $12.55 on Friday. 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 firm has a market capitalization of $1.07 billion, a PE ratio of -3.27 and a beta of 1.04. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The business’s 50 day simple moving average is $16.40 and its 200 day simple moving average is $17.51.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted 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. As a group, research analysts anticipate that MoonLake Immunotherapeutics will post -3.34 EPS for the current year.

Insider Transactions at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, 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 value of $1,367,145.78. Following the completion of the sale, the chief executive officer owned 2,774,893 shares in the company, valued at $55,553,357.86. The trade was a 2.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the transaction, the insider owned 2,714,746 shares in the company, valued at approximately $54,349,214.92. The trade was a 1.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 244,800 shares of company stock valued at $4,904,071. 10.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cormorant Asset Management LP grew its position in MoonLake Immunotherapeutics by 118.4% during the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after buying an additional 2,361,260 shares in the last quarter. Janus Henderson Group PLC raised its holdings in MoonLake Immunotherapeutics by 64.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock valued at $64,304,000 after acquiring an additional 1,355,640 shares in the last quarter. Weiss Asset Management LP lifted its position in shares of MoonLake Immunotherapeutics by 413.1% during the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock valued at $31,843,000 after acquiring an additional 1,375,367 shares during the period. Candriam S.C.A. lifted its position 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 valued at $15,250,000 after acquiring an additional 683,797 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of MoonLake Immunotherapeutics by 5,255.8% during the 1st quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock worth $13,510,000 after purchasing an additional 711,261 shares in the last quarter. 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’s approach is based on Nanobody technology, which is designed to create targeted therapies with potential advantages in tissue penetration and biological activity.

MoonLake’s lead product candidate is sonelokimab, a trivalent Nanobody designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.