MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have earned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $74.46.

A number of equities analysts have weighed in on MLTX shares. The Goldman Sachs Group initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price target on the stock. Wolfe Research assumed coverage on MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They issued an “outperform” rating and a $77.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. William Blair reiterated an “outperform” rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 9th.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $44.52 on Tuesday. The firm has a 50 day simple moving average of $46.54 and a 200-day simple moving average of $50.91. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -58.58 and a beta of 1.29. MoonLake Immunotherapeutics has a 1-year low of $24.31 and a 1-year high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.11. On average, equities analysts expect that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current fiscal year.

Insider Transactions at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 10,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $60.15, for a total value of $601,500.00. Following the completion of the transaction, the insider now directly owns 110,071 shares in the company, valued at $6,620,770.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 10,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $60.15, for a total transaction of $601,500.00. Following the sale, the insider now directly owns 110,071 shares of the company’s stock, valued at $6,620,770.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Da Silva Jorge Santos sold 62,810 shares of MoonLake Immunotherapeutics stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total transaction of $3,454,550.00. Following the completion of the transaction, the chief executive officer now directly owns 3,043,619 shares of the company’s stock, valued at $167,399,045. The disclosure for this sale can be found here. Over the last quarter, insiders sold 166,981 shares of company stock valued at $9,490,674. 12.02% of the stock is currently owned by corporate insiders.

Institutional Trading of MoonLake Immunotherapeutics

Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its stake in shares of MoonLake Immunotherapeutics by 50.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock valued at $371,000 after purchasing an additional 2,067 shares during the period. Perceptive Advisors LLC acquired a new position in shares of MoonLake Immunotherapeutics in the 4th quarter worth approximately $4,976,000. Quarry LP bought a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter worth approximately $51,000. Price T Rowe Associates Inc. MD lifted its stake in MoonLake Immunotherapeutics by 9.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock valued at $139,744,000 after purchasing an additional 196,144 shares during the last quarter. Finally, Parkman Healthcare Partners LLC boosted its holdings in MoonLake Immunotherapeutics by 53.9% during the fourth quarter. Parkman Healthcare Partners LLC now owns 82,009 shares of the company’s stock worth $4,953,000 after buying an additional 28,716 shares in the last quarter. 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.