MoonLake Immunotherapeutics (NASDAQ:MLTX) Rating Lowered to “Strong Sell” at Wall Street Zen

MoonLake Immunotherapeutics (NASDAQ:MLTX) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Sunday, Wall Street Zen reports.

A number of other research analysts also recently issued reports on the company. HC Wainwright boosted their price objective on MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Leerink Partners raised their target price on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Weiss Ratings raised shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. BTIG Research reiterated a “buy” rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Wednesday, September 16th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $26.92.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX opened at $11.56 on Friday. The business’s fifty day moving average is $15.69 and its 200 day moving average is $17.31. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $23.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 12.56 and a current ratio of 12.56. The company has a market capitalization of $983.87 million, a PE ratio of -3.01 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.07. Sell-side analysts predict that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current year.

Insider Activity

In related news, insider Kristian Reich sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was 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 of the company’s stock, valued at approximately $54,349,214.92. The trade was a 1.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $1,367,145.78. Following the completion of the transaction, the chief executive officer directly owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 244,800 shares of company stock valued at $4,904,071 in the last quarter. 10.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Axiom Investors LLC DE raised its position in shares of MoonLake Immunotherapeutics by 3.2% during the 4th quarter. Axiom Investors LLC DE now owns 25,998 shares of the company’s stock valued at $343,000 after buying an additional 818 shares in the last quarter. Allworth Financial LP grew its position in MoonLake Immunotherapeutics by 156.2% in the second quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock worth $33,000 after acquiring an additional 1,045 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in MoonLake Immunotherapeutics by 221.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock worth $53,000 after acquiring an additional 1,974 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in MoonLake Immunotherapeutics in the second quarter worth about $39,000. Finally, FNY Investment Advisers LLC bought a new stake in MoonLake Immunotherapeutics during the second quarter worth approximately $58,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.