MoonLake Immunotherapeutics (NASDAQ:MLTX) Cut to Hold at Stifel Nicolaus

Stifel Nicolaus downgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) from a buy rating to a hold rating in a research report report published on Monday, Marketbeat reports. Stifel Nicolaus currently has $13.00 target price on the stock.

A number of other analysts have also recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Royal Bank Of Canada reissued a “sector perform” rating and set a $10.00 target price (down from $67.00) on shares of MoonLake Immunotherapeutics in a research note on Monday. BTIG Research lowered shares of MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research note on Monday. Redburn Atlantic upgraded MoonLake Immunotherapeutics to a “hold” rating in a research report on Monday, July 28th. Finally, Rothschild & Co Redburn started coverage on MoonLake Immunotherapeutics in a research report on Monday, July 28th. They issued a “neutral” rating and a $65.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of “Hold” and a consensus target price of $37.00.

MoonLake Immunotherapeutics Stock Down 1.5%

Shares of MoonLake Immunotherapeutics stock opened at $7.06 on Monday. The stock has a market capitalization of $453.46 million, a price-to-earnings ratio of -2.54 and a beta of 1.11. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The company has a current ratio of 16.65, a quick ratio of 16.65 and a debt-to-equity ratio of 0.21. The business’s 50 day simple moving average is $51.83 and its 200-day simple moving average is $45.48.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.14). During the same quarter last year, the business posted ($0.39) earnings per share. Equities research analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Insider Transactions at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, major shareholder Bihua Chen sold 6,494,151 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $7.21, for a total transaction of $46,822,828.71. Following the completion of the transaction, the insider directly owned 2,000,000 shares of the company’s stock, valued at approximately $14,420,000. This trade represents a 76.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 12.02% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Nuveen LLC bought a new stake in MoonLake Immunotherapeutics in the first quarter worth about $26,308,000. Vestal Point Capital LP grew its stake in shares of MoonLake Immunotherapeutics by 175.0% in the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock worth $25,960,000 after purchasing an additional 350,000 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of MoonLake Immunotherapeutics by 436.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 423,170 shares of the company’s stock worth $19,974,000 after purchasing an additional 344,335 shares in the last quarter. Millennium Management LLC lifted its stake in MoonLake Immunotherapeutics by 3,343.2% during the first quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock valued at $13,453,000 after purchasing an additional 334,320 shares during the last quarter. Finally, Octagon Capital Advisors LP acquired a new position in MoonLake Immunotherapeutics in the first quarter worth approximately $11,565,000. 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.