MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Consensus Recommendation of “Hold” by Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX) has received an average rating of “Hold” from the sixteen brokerages that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $25.9231.

Several brokerages have recently commented on MLTX. Citigroup lowered MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 29th. Zacks Research downgraded shares of MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. BTIG Research reissued a “buy” rating and issued a $24.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, February 9th. UBS Group set a $24.00 price target on MoonLake Immunotherapeutics in a research report on Friday, January 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, February 3rd.

MoonLake Immunotherapeutics Price Performance

Shares of MoonLake Immunotherapeutics stock opened at $18.77 on Monday. The stock has a 50 day moving average price of $15.24 and a 200-day moving average price of $24.08. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -5.65 and a beta of 1.20. The company has a debt-to-equity ratio of 0.25, a quick ratio of 8.50 and a current ratio of 8.50.

Insider Buying and Selling

In other news, CEO Da Silva Jorge Santos sold 70,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $14.49, for a total transaction of $1,014,300.00. Following the completion of the transaction, the chief executive officer directly owned 2,878,577 shares of the company’s stock, valued at $41,710,580.73. The trade was a 2.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kristian Reich sold 72,908 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $14.43, for a total transaction of $1,052,062.44. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 402,908 shares of company stock worth $5,987,162 in the last ninety days. Corporate insiders own 12.05% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Several large investors have recently bought and sold shares of the business. Millennium Management LLC grew its stake in shares of MoonLake Immunotherapeutics by 3,343.2% in the first quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock valued at $13,453,000 after buying an additional 334,320 shares in the last quarter. Jennison Associates LLC purchased a new position in MoonLake Immunotherapeutics during the 2nd quarter valued at about $2,941,000. Geode Capital Management LLC grew its position in MoonLake Immunotherapeutics by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock valued at $2,809,000 after acquiring an additional 559 shares in the last quarter. JPMorgan Chase & Co. increased its stake in MoonLake Immunotherapeutics by 4,584.5% during the second quarter. JPMorgan Chase & Co. now owns 39,397 shares of the company’s stock worth $1,860,000 after purchasing an additional 38,556 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of MoonLake Immunotherapeutics by 7.3% during the second quarter. Legal & General Group Plc now owns 20,905 shares of the company’s stock worth $987,000 after purchasing an additional 1,425 shares in the last quarter. Hedge funds and other 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.