MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Now Rated “Hold” by Wall Street Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX) has received an average recommendation of “Hold” from the fourteen analysts that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $28.50.

Several brokerages recently commented on MLTX. Wall Street Zen downgraded shares of MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, September 27th. HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Wednesday, September 16th. BTIG Research restated a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Finally, Weiss Ratings raised MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st.

Insiders Place Their Bets

In related news, CEO Silva Santos sold 68,289 shares of the firm’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 directly owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This trade represents a 2.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the completion of the sale, the insider owned 2,714,746 shares in the company, valued at approximately $54,349,214.92. The trade was a 1.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 197,025 shares of company stock valued at $3,947,138. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP acquired a new stake in MoonLake Immunotherapeutics during the second quarter worth $2,173,000. Integrated Wealth Concepts LLC acquired a new position in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at $39,000. Allworth Financial LP lifted its holdings in shares of MoonLake Immunotherapeutics by 156.2% during the 2nd quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock worth $33,000 after acquiring an additional 1,045 shares during the period. Arizona State Retirement System acquired a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at about $233,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at about $58,000. 93.85% of the stock is owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX opened at $11.38 on Tuesday. The stock’s fifty day simple moving average is $14.90 and its 200 day simple moving average is $17.11. The stock has a market capitalization of $968.55 million, a price-to-earnings ratio of -2.96 and a beta of 1.08. The company has a quick ratio of 12.56, a current ratio of 12.56 and a debt-to-equity ratio of 0.23. MoonLake Immunotherapeutics has a 52-week low of $8.18 and a 52-week high of $23.29.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Monday, August 10th. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.07. As a group, sell-side analysts forecast that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current fiscal year.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for inflammatory and immunologic diseases. The company is headquartered in Zug, Switzerland, and its ordinary shares trade on the Nasdaq under the symbol MLTX.

MoonLake’s primary product candidate is sonelokimab, a novel Nanobody-based inhibitor designed to selectively target interleukin-17A and interleukin-17F, two cytokines involved in inflammation. The company is evaluating sonelokimab in conditions including hidradenitis suppurativa, psoriatic arthritis and axial spondyloarthritis, with the goal of addressing significant unmet needs in chronic inflammatory disease.

MoonLake was established to advance sonelokimab and related immunology programs and has developed its business around a Nanobody-based drug-development platform.