MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Consensus Rating of “Moderate Buy” by Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $79.00.

MLTX has been the subject of a number of analyst reports. Wedbush restated an “outperform” rating and issued a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and set a $62.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Wolfe Research downgraded MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report 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 report on Thursday, November 14th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd.

MoonLake Immunotherapeutics Price Performance

MoonLake Immunotherapeutics stock opened at $54.32 on Friday. MoonLake Immunotherapeutics has a one year low of $37.55 and a one year high of $64.98. The company’s fifty day moving average price is $50.05 and its two-hundred day moving average price is $45.91. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -42.11 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same quarter last year, the company earned ($0.18) earnings per share. As a group, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction on 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 directly owns 171,980 shares of the company’s stock, valued at $9,238,765.60. This trade represents a 49.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of MLTX. Barclays PLC boosted its holdings in MoonLake Immunotherapeutics by 1,269.2% during the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock valued at $283,000 after purchasing an additional 5,229 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of MoonLake Immunotherapeutics by 55.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,325 shares of the company’s stock worth $1,025,000 after buying an additional 7,247 shares during the period. State Street Corp boosted its stake in MoonLake Immunotherapeutics by 96.2% in the 3rd quarter. State Street Corp now owns 87,637 shares of the company’s stock valued at $4,419,000 after buying an additional 42,980 shares in the last quarter. Parkman Healthcare Partners LLC grew its position in MoonLake Immunotherapeutics by 1.6% in the third quarter. Parkman Healthcare Partners LLC now owns 102,813 shares of the company’s stock valued at $5,184,000 after acquiring an additional 1,589 shares during the period. Finally, HighVista Strategies LLC raised its stake in MoonLake Immunotherapeutics by 3.1% during the third quarter. HighVista Strategies LLC now owns 43,541 shares of the company’s stock worth $2,195,000 after acquiring an additional 1,292 shares in the last quarter. 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.