MoonLake Immunotherapeutics’ (MLTX) “Buy” Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report released on Monday morning, MarketBeat.com reports. The firm currently has a $24.00 target price on the stock.

MLTX has been the subject of a number of other research reports. The Goldman Sachs Group cut shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and upped their price objective for the company from $8.00 to $10.00 in a research note on Wednesday, January 14th. Oppenheimer restated an “outperform” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 6th. UBS Group set a $24.00 price objective on MoonLake Immunotherapeutics in a research note on Friday, January 9th. HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, February 3rd. Finally, Zacks Research cut MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.77.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $15.79 on Monday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.76 and a beta of 1.21. The business has a 50 day moving average of $14.89 and a 200 day moving average of $26.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 8.50 and a quick ratio of 8.50. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75.

Insider Activity

In other news, CEO Da Silva Jorge Santos sold 130,000 shares of the 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 completion of the sale, the chief executive officer directly owned 2,948,577 shares in the company, valued at approximately $44,464,541.16. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kristian Reich sold 130,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $15.08, for a total value of $1,960,400.00. Following the transaction, the insider owned 72,908 shares in the company, valued at approximately $1,099,452.64. This represents a 64.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 402,908 shares of company stock valued at $5,987,162. Insiders own 12.02% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MLTX. Geode Capital Management LLC boosted its position in shares of MoonLake Immunotherapeutics by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after purchasing an additional 559 shares in the last quarter. Squarepoint Ops LLC increased its position in MoonLake Immunotherapeutics by 3.7% during the 2nd quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock valued at $829,000 after buying an additional 629 shares in the last quarter. Axiom Investors LLC DE raised its stake in MoonLake Immunotherapeutics by 3.2% during the fourth quarter. Axiom Investors LLC DE now owns 25,998 shares of the company’s stock valued at $343,000 after buying an additional 818 shares during the last quarter. BNP Paribas Financial Markets raised its stake in MoonLake Immunotherapeutics by 18.9% during the third quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock valued at $52,000 after buying an additional 1,158 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in MoonLake Immunotherapeutics by 7.3% in the second quarter. Legal & General Group Plc now owns 20,905 shares of the company’s stock worth $987,000 after acquiring an additional 1,425 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immunomodulatory therapies for autoimmune and inflammatory diseases. The company leverages a proprietary platform designed to selectively modulate key immune cell populations, aiming to restore immune balance and reduce tissue damage with targeted biologic candidates.

Its lead asset, MLTX101, is a recombinant immune cell modulator in clinical development for myositis, including inclusion body myositis and dermatomyositis.