MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Gap Up on Analyst Upgrade

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price gapped up before the market opened on Monday after HC Wainwright raised their price target on the stock from $40.00 to $45.00. The stock had previously closed at $17.06, but opened at $18.24. HC Wainwright currently has a buy rating on the stock. MoonLake Immunotherapeutics shares last traded at $19.9030, with a volume of 339,927 shares changing hands.

Other equities analysts have also issued research reports about the company. Needham & Company LLC upped their price objective on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. BTIG Research reaffirmed a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, March 30th. The Goldman Sachs Group lowered MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $8.00 to $10.00 in a research note on Wednesday, January 14th. Wolfe Research raised MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and upped their price objective for the stock from $12.00 to $24.00 in a research note on Monday, March 23rd. Finally, Oppenheimer upped their price objective on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.46.

Insider Transactions at MoonLake Immunotherapeutics

In related news, Director Bvf Partners L. P/Il sold 3,750,000 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total transaction of $62,962,500.00. Following the completion of the transaction, the director directly owned 1,039,238 shares of the company’s stock, valued at approximately $17,448,806.02. This represents a 78.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Da Silva Jorge Santos sold 98,127 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $18.41, for a total value of $1,806,518.07. Following the transaction, the chief executive officer directly owned 2,976,766 shares of the company’s stock, valued at approximately $54,802,262.06. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,900,000 shares of company stock valued at $65,714,663. Corporate insiders own 12.05% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLTX. Cormorant Asset Management LP boosted its stake in MoonLake Immunotherapeutics by 118.4% during the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock valued at $57,405,000 after buying an additional 2,361,260 shares during the last quarter. Janus Henderson Group PLC boosted its stake in 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 last quarter. Logos Global Management LP bought a new position in MoonLake Immunotherapeutics during the fourth quarter valued at approximately $23,065,000. Vivo Capital LLC bought a new position in MoonLake Immunotherapeutics during the fourth quarter valued at approximately $13,180,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in MoonLake Immunotherapeutics during the third quarter valued at approximately $6,922,000. 93.85% of the stock is owned by institutional investors.

MoonLake Immunotherapeutics Stock Performance

The business has a 50 day moving average of $17.47 and a 200 day moving average of $15.19. The company has a market capitalization of $1.45 billion, a P/E ratio of -5.73 and a beta of 1.01. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.24.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.92) EPS for the quarter, meeting analysts’ consensus estimates of ($0.92). During the same period in the prior year, the business earned ($0.72) EPS. On average, sell-side analysts predict that MoonLake Immunotherapeutics will post -3.42 earnings per share for the current year.

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.