BTIG Research Reaffirms “Buy” Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a report released on Tuesday,Benzinga reports. They currently have a $30.00 price objective on the stock. BTIG Research’s price objective points to a potential upside of 66.67% from the stock’s previous close.

A number of other analysts have also recently weighed in on MLTX. Royal Bank Of Canada raised their price objective on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Zacks Research upgraded shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings restated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $12.00 to $40.00 in a research report on Thursday, March 19th. Finally, HC Wainwright restated a “buy” rating and set a $45.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.85.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX opened at $18.00 on Tuesday. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. The stock has a 50 day moving average price of $17.74 and a 200 day moving average price of $16.33. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -4.65 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). Research analysts predict that MoonLake Immunotherapeutics will post -3.71 EPS for the current fiscal year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In related news, CEO Da Silva Jorge Santos sold 51,873 shares of the stock in a transaction on Monday, April 13th. The stock was 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 of the company’s stock, valued at $53,320,799.39. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bvf Partners L. P/Il sold 3,750,000 shares of the stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total value of $62,962,500.00. Following the completion of the transaction, the director owned 1,039,238 shares of the company’s stock, valued at $17,448,806.02. The trade was a 78.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,900,000 shares of company stock valued at $65,714,663. Corporate insiders own 12.02% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Avidity Partners Management LP purchased a new position in shares of MoonLake Immunotherapeutics in the first quarter valued at $932,000. Bank of America Corp DE increased its position in shares of MoonLake Immunotherapeutics by 5,255.8% in the first quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock valued at $13,510,000 after buying an additional 711,261 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of MoonLake Immunotherapeutics by 64.7% in the first quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock valued at $64,304,000 after buying an additional 1,355,640 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of MoonLake Immunotherapeutics by 221.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock valued at $53,000 after buying an additional 1,974 shares in the last quarter. Finally, Readystate Asset Management LP purchased a new position in shares of MoonLake Immunotherapeutics in the first quarter valued at $2,689,000. 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.