MoonLake Immunotherapeutics (NASDAQ:MLTX) Rating Reiterated by HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They presently have a $100.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 104.50% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Oppenheimer began coverage on MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 price objective on the stock. Finally, Wolfe Research downgraded MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.45.

MoonLake Immunotherapeutics Stock Down 0.1 %

Shares of NASDAQ:MLTX opened at $48.90 on Tuesday. The business’s 50 day moving average is $48.78 and its 200 day moving average is $45.02. MoonLake Immunotherapeutics has a 12-month low of $35.11 and a 12-month high of $64.98. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of -65.20 and a beta of 1.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same period in the previous year, the firm earned ($0.23) EPS. As a group, equities research analysts expect that MoonLake Immunotherapeutics will post -1.54 earnings per share for the current year.

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the 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 owns 171,980 shares in the company, valued at $9,238,765.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB lifted its position in shares of MoonLake Immunotherapeutics by 26.2% during the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock worth $655,000 after acquiring an additional 2,700 shares in the last quarter. Quarry LP raised its stake in shares of MoonLake Immunotherapeutics by 172.7% during the 2nd quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $132,000 after purchasing an additional 1,900 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in MoonLake Immunotherapeutics by 37.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,234 shares of the company’s stock worth $5,023,000 after purchasing an additional 31,401 shares in the last quarter. Millennium Management LLC boosted its stake in MoonLake Immunotherapeutics by 596.0% in the 2nd 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 period. Finally, Marshall Wace LLP grew its holdings in MoonLake Immunotherapeutics by 115.0% during the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after buying an additional 587,684 shares in the last quarter. 93.85% of the stock is owned by institutional investors.

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.