Brokerages Set MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target at $80.45

MoonLake Immunotherapeutics (NASDAQ:MLTX) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $80.45.

MLTX has been the subject of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Wolfe Research lowered MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Finally, HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, October 15th.

Insider Transactions at MoonLake Immunotherapeutics

In other news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the transaction, the director now owns 171,980 shares in the company, valued at $9,238,765.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several large investors have recently made changes to their positions in MLTX. US Bancorp DE bought a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at about $44,000. Quarry LP lifted its position in shares of MoonLake Immunotherapeutics by 172.7% in the second quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $132,000 after buying an additional 1,900 shares during the last quarter. Bellevue Group AG acquired a new position in shares of MoonLake Immunotherapeutics during the 1st quarter worth approximately $221,000. DNB Asset Management AS increased its holdings in shares of MoonLake Immunotherapeutics by 29.8% during the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock worth $324,000 after acquiring an additional 1,694 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings 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 purchasing an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Down 1.2 %

Shares of MoonLake Immunotherapeutics stock opened at $46.42 on Tuesday. The business has a fifty day simple moving average of $49.22 and a 200 day simple moving average of $45.12. The stock has a market cap of $2.97 billion, a PE ratio of -51.05 and a beta of 1.26. MoonLake Immunotherapeutics has a 12 month low of $35.11 and a 12 month high of $64.98.

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

About MoonLake Immunotherapeutics

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.