MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTXGet Free Report) have received an average rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $80.45.

Several brokerages have commented on MLTX. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Wolfe Research cut shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, October 15th.

Get Our Latest Analysis on MLTX

MoonLake Immunotherapeutics Stock Down 0.8 %

MoonLake Immunotherapeutics stock opened at $46.40 on Tuesday. The stock has a market cap of $2.96 billion, a P/E ratio of -50.99 and a beta of 1.28. MoonLake Immunotherapeutics has a 12 month low of $35.11 and a 12 month high of $64.98. The company’s fifty day simple moving average is $49.08 and its 200-day simple moving average is $45.20.

MoonLake Immunotherapeutics (NASDAQ:MLTXGet Free Report) last posted its 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 period in the previous year, the business earned ($0.23) EPS. On average, equities research analysts expect that MoonLake Immunotherapeutics will post -1.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.02% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

A number of large investors have recently bought and sold shares of the stock. Avoro Capital Advisors LLC increased its position 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 worth $121,797,000 after purchasing an additional 190,000 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of MoonLake Immunotherapeutics by 2.6% in the second quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock valued at $49,617,000 after purchasing an additional 28,672 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of MoonLake Immunotherapeutics by 115.0% in the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after purchasing 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 purchasing an additional 298,823 shares during the last quarter. Finally, Logos Global Management LP acquired a new position in MoonLake Immunotherapeutics during the 2nd quarter worth $32,978,000. 93.85% of the stock is currently owned by institutional investors.

About MoonLake Immunotherapeutics

(Get Free Report

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.

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Analyst Recommendations for MoonLake Immunotherapeutics (NASDAQ:MLTX)

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