MoonLake Immunotherapeutics (NASDAQ:MLTX) Raised to “Strong-Buy” at Wedbush

Wedbush upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) to a strong-buy rating in a research note released on Monday,Zacks.com reports. Wedbush also issued estimates for MoonLake Immunotherapeutics’ Q3 2024 earnings at ($0.35) EPS, Q4 2024 earnings at ($0.38) EPS, FY2024 earnings at ($1.33) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.46) EPS, Q3 2025 earnings at ($0.48) EPS, Q4 2025 earnings at ($0.50) EPS, FY2025 earnings at ($1.86) EPS, FY2026 earnings at ($1.82) EPS, FY2027 earnings at ($1.59) EPS and FY2028 earnings at $0.38 EPS.

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

MoonLake Immunotherapeutics Stock Down 1.6 %

Shares of MoonLake Immunotherapeutics stock opened at $50.67 on Monday. The company has a market cap of $3.24 billion, a PE ratio of -55.68 and a beta of 1.28. The business has a 50 day moving average price of $49.25 and a 200-day moving average price of $45.32. MoonLake Immunotherapeutics has a 52 week low of $35.53 and a 52 week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data 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 in the previous year, the firm posted ($0.23) EPS. As a group, research analysts anticipate that MoonLake Immunotherapeutics will post -1.54 EPS for the current year.

Insiders Place Their Bets

In other news, Director Simon Sturge sold 171,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MLTX. Logos Global Management LP purchased a new position in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at approximately $32,978,000. Marshall Wace LLP lifted its position in MoonLake Immunotherapeutics by 115.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after acquiring an additional 587,684 shares in the last quarter. Westfield Capital Management Co. LP raised its position in MoonLake Immunotherapeutics by 48.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock worth $45,753,000 after buying an additional 298,823 shares during the last quarter. Avoro Capital Advisors LLC boosted its holdings in shares of MoonLake Immunotherapeutics by 7.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock valued at $121,797,000 after acquiring an additional 190,000 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in MoonLake Immunotherapeutics by 596.0% in the second quarter. Millennium Management LLC now owns 216,964 shares of the company’s stock worth $9,540,000 after purchasing an additional 185,789 shares during 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.