HC Wainwright Reiterates “Buy” Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reiterated by HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They presently have a $100.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 103.58% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Wolfe Research downgraded MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Oppenheimer started coverage on MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They set an “outperform” rating and a $104.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $62.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.45.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $49.12 on Tuesday. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of -65.49 and a beta of 1.26. MoonLake Immunotherapeutics has a 52-week low of $35.11 and a 52-week high of $64.98. The stock has a fifty day moving average of $49.00 and a 200 day moving average of $45.00.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same quarter in the prior year, the company earned ($0.23) earnings per share. Equities analysts forecast that MoonLake Immunotherapeutics will post -1.54 earnings per share for the current fiscal year.

Insider Transactions at MoonLake Immunotherapeutics

In related news, Director Simon Sturge sold 171,000 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the transaction, the director now owns 171,980 shares in the company, valued at $9,238,765.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Quarry LP increased its holdings in MoonLake Immunotherapeutics by 172.7% during the 2nd quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $132,000 after purchasing an additional 1,900 shares during the period. Bellevue Group AG purchased a new position in MoonLake Immunotherapeutics during the 1st quarter valued at about $221,000. PNC Financial Services Group Inc. boosted its position in MoonLake Immunotherapeutics by 50.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock valued at $371,000 after acquiring an additional 2,067 shares in the last quarter. DNB Asset Management AS boosted its position in MoonLake Immunotherapeutics by 29.8% during the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock valued at $324,000 after acquiring an additional 1,694 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in MoonLake Immunotherapeutics by 26.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after acquiring an additional 2,700 shares in the last quarter. Hedge funds and other 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.