MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been assigned an average rating of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $79.00.

A number of brokerages have weighed in on MLTX. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Needham & Company LLC restated a “buy” rating and set a $62.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Wedbush reaffirmed an “outperform” rating and issued a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 14th. Finally, Wolfe Research lowered MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th.

MoonLake Immunotherapeutics Price Performance

Shares of MoonLake Immunotherapeutics stock opened at $54.32 on Friday. MoonLake Immunotherapeutics has a 1-year low of $37.55 and a 1-year high of $64.98. The business’s fifty day moving average price is $50.05 and its two-hundred day moving average price is $45.91. The company has a market capitalization of $3.47 billion, a P/E ratio of -42.11 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same quarter last year, the company posted ($0.18) EPS. On average, research analysts expect that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Simon Sturge sold 171,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the sale, the director now directly owns 171,980 shares of the company’s stock, valued at $9,238,765.60. This represents a 49.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MLTX. FMR LLC grew its holdings in shares of MoonLake Immunotherapeutics by 35.8% during the 3rd quarter. FMR LLC now owns 4,950,224 shares of the company’s stock valued at $249,590,000 after acquiring an additional 1,306,215 shares in the last quarter. Logos Global Management LP purchased a new position in MoonLake Immunotherapeutics in the second quarter valued at about $32,978,000. Marshall Wace LLP increased its position in MoonLake Immunotherapeutics by 115.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock worth $48,307,000 after purchasing an additional 587,684 shares during the last quarter. Avoro Capital Advisors LLC raised its stake in shares of MoonLake Immunotherapeutics by 7.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock worth $121,797,000 after purchasing an additional 190,000 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 596.0% during the 2nd quarter. Millennium Management LLC now owns 216,964 shares of the company’s stock valued at $9,540,000 after buying an additional 185,789 shares during the last quarter. Institutional investors and hedge funds 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.