Royal Bank Of Canada Forecasts Strong Price Appreciation for MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price target hoisted by equities research analysts at Royal Bank Of Canada from $10.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential downside of 32.51% from the company’s current price.

A number of other brokerages also recently issued reports on MLTX. Oppenheimer restated an “outperform” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, November 6th. BTIG Research reissued a “buy” rating and set a $24.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, February 9th. Citigroup lowered MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 29th. UBS Group set a $24.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Friday, January 9th. Finally, The Goldman Sachs Group lowered shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $8.00 to $10.00 in a report on Wednesday, January 14th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.92.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX stock traded down $0.39 during trading hours on Friday, hitting $17.78. 52,296 shares of the company’s stock were exchanged, compared to its average volume of 2,654,236. The company has a market capitalization of $1.14 billion, a PE ratio of -5.31 and a beta of 1.21. The company has a current ratio of 8.50, a quick ratio of 8.50 and a debt-to-equity ratio of 0.25. The business’s 50 day simple moving average is $15.16 and its 200-day simple moving average is $24.73. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75.

Insider Activity at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 130,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $15.08, for a total transaction of $1,960,400.00. Following the completion of the transaction, the insider directly owned 72,908 shares in the company, valued at approximately $1,099,452.64. The trade was a 64.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Da Silva Jorge Santos sold 130,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $15.08, for a total transaction of $1,960,400.00. Following the sale, the chief executive officer owned 2,948,577 shares in the company, valued at $44,464,541.16. This represents a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 402,908 shares of company stock worth $5,987,162 in the last quarter. Company insiders own 12.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new position in shares of MoonLake Immunotherapeutics during the fourth quarter valued at approximately $26,000. FNY Investment Advisers LLC purchased a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $28,000. Bank of America Corp DE raised its position in shares of MoonLake Immunotherapeutics by 64.7% in the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock worth $32,000 after acquiring an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of MoonLake Immunotherapeutics by 115.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock valued at $42,000 after buying an additional 3,166 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in MoonLake Immunotherapeutics by 45.4% in the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after buying an additional 1,069 shares during the last quarter. 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.