Analysts Set MoonLake Immunotherapeutics (NASDAQ:MLTX) Target Price at $23.08

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have received a consensus recommendation of “Hold” from the sixteen research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $23.0769.

A number of analysts recently commented on the stock. Zacks Research raised shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. HC Wainwright boosted their price objective on shares of MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Oppenheimer boosted their price objective on shares of MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. UBS Group set a $24.00 price target on shares of MoonLake Immunotherapeutics in a report on Friday, January 9th. Finally, Royal Bank Of Canada upped their price target on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd.

MoonLake Immunotherapeutics Stock Down 0.8%

MLTX stock opened at $17.06 on Friday. The company has a market cap of $1.22 billion, a P/E ratio of -4.85 and a beta of 1.01. MoonLake Immunotherapeutics has a 52 week low of $5.95 and a 52 week high of $62.75. The company’s 50-day moving average price is $17.47 and its 200 day moving average price is $15.19. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.24.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.92) EPS for the quarter, hitting analysts’ consensus estimates of ($0.92). During the same quarter in the previous year, the company posted ($0.72) EPS. On average, research analysts expect that MoonLake Immunotherapeutics will post -3.42 earnings per share for the current fiscal year.

Insider Activity

In other MoonLake Immunotherapeutics news, Director Bvf Partners L. P/Il sold 3,750,000 shares of the company’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $16.79, for a total value of $62,962,500.00. Following the sale, the director owned 1,039,238 shares of the company’s stock, valued at $17,448,806.02. This represents a 78.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Da Silva Jorge Santos sold 51,873 shares of the company’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $18.23, for a total transaction of $945,644.79. Following the completion of the sale, the chief executive officer directly owned 2,924,893 shares in the company, valued at $53,320,799.39. This trade represents a 1.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,900,000 shares of company stock worth $65,714,663 in the last ninety days. Insiders own 12.02% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Cormorant Asset Management LP lifted its holdings in shares of MoonLake Immunotherapeutics by 118.4% in the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock valued at $57,405,000 after purchasing an additional 2,361,260 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of MoonLake Immunotherapeutics by 18,782.8% during the fourth quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock valued at $27,657,000 after buying an additional 2,084,888 shares during the period. Logos Global Management LP purchased a new position in shares of MoonLake Immunotherapeutics during the fourth quarter valued at approximately $23,065,000. Alliancebernstein L.P. lifted its stake in shares of MoonLake Immunotherapeutics by 17.8% during the second quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock valued at $53,715,000 after buying an additional 171,932 shares during the period. Finally, Vivo Capital LLC purchased a new position in shares of MoonLake Immunotherapeutics during the fourth quarter valued at approximately $13,180,000. Hedge funds and other institutional investors 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.