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

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

Several research firms have weighed in on MLTX. Needham & Company LLC restated a “buy” rating and issued a $62.00 price target on shares of MoonLake Immunotherapeutics in a research note 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. Wedbush restated an “outperform” rating and set a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 14th.

MoonLake Immunotherapeutics Price Performance

MLTX opened at $54.43 on Friday. The firm has a market cap of $3.48 billion, a P/E ratio of -42.19 and a beta of 1.28. MoonLake Immunotherapeutics has a 1-year low of $37.55 and a 1-year high of $64.98. The company has a 50 day simple moving average of $50.27 and a two-hundred day simple moving average of $46.39.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same quarter last year, the firm posted ($0.18) earnings per share. Equities analysts anticipate that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the business’s 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 transaction, the director now owns 171,980 shares in the company, valued at $9,238,765.60. The trade was a 49.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.02% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in MoonLake Immunotherapeutics by 25.3% in the first quarter. Vanguard Group Inc. now owns 92,298 shares of the company’s stock worth $4,636,000 after purchasing an additional 18,641 shares during the period. Bellevue Group AG purchased a new position in MoonLake Immunotherapeutics in the 1st quarter worth about $221,000. California State Teachers Retirement System lifted its holdings in MoonLake Immunotherapeutics by 2.7% during the 1st quarter. California State Teachers Retirement System now owns 16,366 shares of the company’s stock valued at $822,000 after buying an additional 429 shares in the last quarter. DNB Asset Management AS boosted its position in MoonLake Immunotherapeutics by 29.8% in the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock valued at $324,000 after buying an additional 1,694 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in MoonLake Immunotherapeutics by 371.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 38,689 shares of the company’s stock worth $1,701,000 after acquiring an additional 30,481 shares in the last quarter. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

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.