MoonLake Immunotherapeutics (NASDAQ:MLTX) Raised to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded MoonLake Immunotherapeutics from “strong sell” to “sell,” while the broader analyst consensus remains “Hold” with an average price target of $24.57.
• MLTX shares opened at $12.39, well below their 12-month high of $62.75. The company reported a quarterly loss of $0.84 per share, beating estimates for a $0.91 loss.
• Insiders sold 244,800 shares worth approximately $4.9 million over the past 90 days, while institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on MLTX. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of MoonLake Immunotherapeutics in a research note on Wednesday. Leerink Partners boosted their price target on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, August 21st. HC Wainwright upped their price target on shares of MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Finally, BTIG Research restated a "buy" rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Eleven research 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's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $24.57.

MoonLake Immunotherapeutics Trading Up 0.3%

Shares of MLTX stock opened at $12.39 on Friday. The firm has a market cap of $1.05 billion, a P/E ratio of -3.23 and a beta of 1.04. The business has a 50-day moving average price of $16.55 and a two-hundred day moving average price of $17.55. 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 12-month low of $5.95 and a 12-month high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.91) by $0.07. Equities analysts anticipate that MoonLake Immunotherapeutics will post -3.34 EPS for the current fiscal year.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total value of $1,001,000.00. Following the transaction, the insider owned 2,714,746 shares in the company, valued at $54,349,214.92. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Silva Santos sold 68,289 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 2,774,893 shares of the company's stock, valued at approximately $55,553,357.86. This trade represents a 2.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 244,800 shares of company stock worth $4,904,071. Corporate insiders own 10.40% of the company's stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Hedge funds have recently bought and sold shares of the stock. Cormorant Asset Management LP grew its stake in shares of MoonLake Immunotherapeutics by 118.4% in 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 in the last quarter. Weiss Asset Management LP lifted its position in MoonLake Immunotherapeutics by 413.1% during the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company's stock worth $31,843,000 after acquiring an additional 1,375,367 shares in the last quarter. Janus Henderson Group PLC lifted its position in MoonLake Immunotherapeutics by 64.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company's stock worth $64,304,000 after acquiring an additional 1,355,640 shares in the last quarter. Bank of America Corp DE lifted its stake in MoonLake Immunotherapeutics by 5,255.8% in the first quarter. Bank of America Corp DE now owns 724,794 shares of the company's stock valued at $13,510,000 after buying an additional 711,261 shares during the last quarter. Finally, Candriam S.C.A. grew its position in shares of MoonLake Immunotherapeutics by 509.0% during the first quarter. Candriam S.C.A. now owns 818,126 shares of the company's stock worth $15,250,000 after acquiring an additional 683,797 shares during the last quarter. Hedge funds and other institutional investors own 93.85% of the company's stock.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for inflammatory and immunologic diseases. The company's approach is based on Nanobody technology, which is designed to create targeted therapies with potential advantages in tissue penetration and biological activity.

MoonLake's lead product candidate is sonelokimab, a trivalent Nanobody designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.

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