MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded at Wedbush

Wedbush upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) to a strong-buy rating in a research note issued to investors on Monday, Zacks.com reports.

Several other analysts have also commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 26th. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, October 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $78.73.

MoonLake Immunotherapeutics Trading Up 8.1 %

MLTX stock opened at $51.48 on Monday. The company’s 50 day simple moving average is $49.19 and its 200-day simple moving average is $45.28. MoonLake Immunotherapeutics has a 12 month low of $35.53 and a 12 month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same quarter last year, the business posted ($0.23) EPS. As a group, analysts predict that MoonLake Immunotherapeutics will post -1.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were 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 of the company’s stock, valued at $9,238,765.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Large investors have recently made changes to their positions in the business. US Bancorp DE acquired a new stake in shares of MoonLake Immunotherapeutics in the third quarter worth $44,000. Quarry LP grew 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 in the last quarter. Bellevue Group AG acquired a new stake in MoonLake Immunotherapeutics during the 1st quarter valued at $221,000. DNB Asset Management AS grew its holdings 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 purchasing an additional 1,694 shares in the last quarter. Finally, Handelsbanken Fonder AB grew 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 in the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.