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

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) 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.

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:MLTX) 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

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.