HC Wainwright Reaffirms Buy Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $100.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 96.73% from the company’s previous close.

A number of other brokerages have also weighed in on MLTX. Needham & Company LLC restated a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $78.73.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX traded up $0.16 during midday trading on Friday, hitting $50.83. 64,411 shares of the company’s stock traded hands, compared to its average volume of 376,770. MoonLake Immunotherapeutics has a twelve month low of $35.53 and a twelve month high of $64.98. The company has a market cap of $3.25 billion, a PE ratio of -55.86 and a beta of 1.28. The firm’s fifty day moving average price is $49.25 and its two-hundred day moving average price is $45.32.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period in the previous year, the firm posted ($0.18) earnings per share. As a group, equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.54 EPS for the current fiscal year.

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 171,980 shares in the company, valued at approximately $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 can be accessed through this link. Insiders own 12.02% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MLTX. US Bancorp DE acquired a new stake in shares of MoonLake Immunotherapeutics in the third quarter valued at $44,000. Quarry LP grew its stake in shares of MoonLake Immunotherapeutics by 172.7% in the 2nd quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $132,000 after buying an additional 1,900 shares in the last quarter. Bellevue Group AG acquired a new position in MoonLake Immunotherapeutics in the first quarter worth approximately $221,000. DNB Asset Management AS raised its position in MoonLake Immunotherapeutics by 29.8% during the second quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock valued at $324,000 after acquiring an additional 1,694 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in MoonLake Immunotherapeutics by 26.2% in 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. 93.85% of the stock is owned by institutional investors and hedge funds.

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.