Analysts Set MoonLake Immunotherapeutics (NASDAQ:MLTX) PT at $80.45

MoonLake Immunotherapeutics (NASDAQ:MLTX) has earned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $80.45.

Several equities analysts recently issued reports on the company. Oppenheimer initiated coverage on MoonLake Immunotherapeutics in a research note on Tuesday, June 25th. They set an “outperform” rating and a $104.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $62.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th.

Insider Transactions at MoonLake Immunotherapeutics

In related news, Director Simon Sturge sold 171,000 shares of the firm’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 value of $9,186,120.00. Following the sale, the director now directly owns 171,980 shares in the company, valued at $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 available through this hyperlink. Insiders own 12.02% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several large investors have recently bought and sold shares of the stock. Quarry LP bought a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at approximately $51,000. Bellevue Group AG bought a new position in MoonLake Immunotherapeutics during the 1st quarter valued at $221,000. DNB Asset Management AS increased its position in shares of MoonLake Immunotherapeutics by 29.8% during the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock valued at $324,000 after purchasing an additional 1,694 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of MoonLake Immunotherapeutics by 50.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock worth $371,000 after buying an additional 2,067 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of MoonLake Immunotherapeutics by 26.2% in the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $49.85 on Friday. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -66.47 and a beta of 1.26. MoonLake Immunotherapeutics has a one year low of $35.11 and a one year high of $64.98. The company’s 50-day simple moving average is $48.40 and its 200-day simple moving average is $45.08.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same quarter in the previous year, the business posted ($0.23) earnings per share. As a group, research analysts forecast that MoonLake Immunotherapeutics will post -1.57 EPS for the current year.

About MoonLake Immunotherapeutics

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.