MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a report published on Tuesday, Benzinga reports. HC Wainwright currently has a $100.00 price target on the stock.

MLTX has been the topic of a number of other research reports. Needham & Company LLC reiterated a buy rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 9th. The Goldman Sachs Group started coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They set a neutral rating and a $62.00 price objective on the stock. 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. Wolfe Research initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They set an outperform rating and a $77.00 price objective on the stock. Finally, Wedbush restated an outperform rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $74.46.

MoonLake Immunotherapeutics Trading Up 5.4 %

Shares of NASDAQ:MLTX opened at $43.25 on Tuesday. The firm’s 50 day moving average is $49.38 and its two-hundred day moving average is $51.93. MoonLake Immunotherapeutics has a 52 week low of $19.80 and a 52 week high of $64.98. The firm has a market capitalization of $2.76 billion, a P/E ratio of -56.91 and a beta of 1.20.

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

Insider Activity

In other news, CEO Da Silva Jorge Santos sold 4,740 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $55.89, for a total transaction of $264,918.60. Following the transaction, the chief executive officer now owns 2,982,814 shares in the company, valued at approximately $166,709,474.46. 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 29,431 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total transaction of $1,618,705.00. Following the completion of the transaction, the insider now owns 70,071 shares of the company’s stock, valued at approximately $3,853,905. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Da Silva Jorge Santos sold 4,740 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $55.89, for a total transaction of $264,918.60. Following the transaction, the chief executive officer now directly owns 2,982,814 shares of the company’s stock, valued at approximately $166,709,474.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,981 shares of company stock worth $9,490,674. 15.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in MoonLake Immunotherapeutics by 50.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock worth $371,000 after acquiring an additional 2,067 shares during the last quarter. Perceptive Advisors LLC acquired a new position in MoonLake Immunotherapeutics during the 4th quarter worth $4,976,000. Quarry LP acquired a new position in MoonLake Immunotherapeutics during the 4th quarter worth $51,000. Price T Rowe Associates Inc. MD lifted its position in MoonLake Immunotherapeutics by 9.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock worth $139,744,000 after acquiring an additional 196,144 shares during the last quarter. Finally, Parkman Healthcare Partners LLC lifted its position in MoonLake Immunotherapeutics by 53.9% during the 4th quarter. Parkman Healthcare Partners LLC now owns 82,009 shares of the company’s stock worth $4,953,000 after acquiring an additional 28,716 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.