MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target Raised to $50.00

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price target hoisted by research analysts at HC Wainwright from $45.00 to $50.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 190.19% from the stock’s current price.

A number of other research analysts have also issued reports on MLTX. Needham & Company LLC raised their price objective on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Leerink Partners upped their price target on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Friday, August 7th. Finally, BTIG Research restated a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Ten research 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 data from MarketBeat, MoonLake Immunotherapeutics currently has an average rating of “Hold” and an average target price of $24.57.

MoonLake Immunotherapeutics Trading Up 3.9%

Shares of MLTX stock opened at $17.23 on Thursday. The firm has a market capitalization of $1.27 billion, a P/E ratio of -4.49 and a beta of 1.06. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39. The stock’s fifty day simple moving average is $18.98 and its 200 day simple moving average is $17.90.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.84) EPS for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.07. As a group, sell-side analysts predict that MoonLake Immunotherapeutics will post -3.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Da Silva Jorge Santos sold 68,289 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $20.02, for a total value of $1,367,145.78. Following the transaction, the chief executive officer owned 2,774,893 shares in the company, valued at $55,553,357.86. The trade was a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00. Following the sale, the insider directly owned 2,824,551 shares in the company, valued at $54,881,025.93. This trade represents a 1.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 344,800 shares of company stock valued at $6,820,071 in the last three months. 10.40% of the stock is owned by insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in MoonLake Immunotherapeutics by 0.9% during the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after buying an additional 559 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of MoonLake Immunotherapeutics by 3.7% during the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock valued at $829,000 after buying an additional 629 shares during the last quarter. Axiom Investors LLC DE increased its position in shares of MoonLake Immunotherapeutics by 3.2% during the fourth quarter. Axiom Investors LLC DE now owns 25,998 shares of the company’s stock worth $343,000 after acquiring an additional 818 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of MoonLake Immunotherapeutics by 45.4% in the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after acquiring an additional 1,069 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of MoonLake Immunotherapeutics by 18.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock worth $52,000 after acquiring an additional 1,158 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors.

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.