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

MoonLake Immunotherapeutics (NASDAQ:MLTX) has been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $81.43.

A number of equities analysts recently weighed in on MLTX shares. HC Wainwright reiterated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Needham & Company LLC restated a “buy” rating and set a $62.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th.

MoonLake Immunotherapeutics Price Performance

MLTX stock opened at $52.67 on Wednesday. The firm has a market cap of $3.37 billion, a PE ratio of -40.83 and a beta of 1.31. MoonLake Immunotherapeutics has a 12 month low of $37.55 and a 12 month high of $64.98. The firm has a 50 day simple moving average of $50.95 and a 200 day simple moving average of $47.86.

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

Insider Buying and Selling

In other news, Director Simon Sturge sold 171,000 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $53.72, for a total value of $9,186,120.00. Following the transaction, the director now directly owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. This represents a 49.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MLTX. US Bancorp DE purchased a new stake in shares of MoonLake Immunotherapeutics during the 3rd quarter worth about $44,000. Quarry LP increased its holdings in MoonLake Immunotherapeutics by 172.7% in the second quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $132,000 after buying an additional 1,900 shares during the last quarter. Barclays PLC increased its holdings in MoonLake Immunotherapeutics by 1,269.2% in the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after buying an additional 5,229 shares during the last quarter. Handelsbanken Fonder AB raised its position in MoonLake Immunotherapeutics by 26.2% during the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after acquiring an additional 2,700 shares in the last quarter. Finally, AlphaCentric Advisors LLC acquired a new stake in MoonLake Immunotherapeutics in the third quarter valued at approximately $706,000. Hedge funds and other 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.