MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reiterated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a report issued on Thursday morning, Benzinga reports. The firm currently has a $100.00 target price on the stock.

Several other equities analysts also recently issued reports on the company. Wolfe Research initiated coverage on MoonLake Immunotherapeutics in a research report on Thursday, February 15th. They issued an outperform rating and a $77.00 price objective for the company. Wedbush reiterated an outperform rating and set a $92.00 price target on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. The Goldman Sachs Group assumed coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They issued a neutral rating and a $62.00 price objective for the company. William Blair reissued an outperform rating and set a $92.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Finally, Needham & Company LLC restated a buy rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $74.46.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX opened at $45.65 on Thursday. The company’s fifty day moving average is $51.80 and its 200-day moving average is $52.69. MoonLake Immunotherapeutics has a 52 week low of $17.82 and a 52 week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.11. As a group, equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Da Silva Jorge Santos sold 62,810 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $55.00, for a total value of $3,454,550.00. Following the completion of the sale, the chief executive officer now directly owns 3,043,619 shares of the company’s stock, valued at approximately $167,399,045. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Da Silva Jorge Santos sold 62,810 shares of MoonLake Immunotherapeutics stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total transaction of $3,454,550.00. Following the transaction, the chief executive officer now directly owns 3,043,619 shares of the company’s stock, valued at $167,399,045. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kristian Reich sold 29,431 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $55.00, for a total value of $1,618,705.00. Following the sale, the insider now directly owns 70,071 shares in the company, valued at approximately $3,853,905. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 166,981 shares of company stock worth $9,490,674. Insiders own 15.27% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG bought a new position in MoonLake Immunotherapeutics in the second quarter valued at approximately $387,000. FMR LLC acquired a new position in MoonLake Immunotherapeutics in the 2nd quarter worth $6,264,000. Millennium Management LLC bought a new position in MoonLake Immunotherapeutics during the 2nd quarter worth about $147,000. Citadel Advisors LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at about $13,916,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of MoonLake Immunotherapeutics in the second quarter valued at about $4,439,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.