MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold”: Of 17 firms covering MoonLake Immunotherapeutics, 10 recommend buying, four advise holding, and three rate it a sell. The average 12-month price target is $24.57.
• Institutional ownership remains high: Hedge funds and other institutions own 93.85% of the company, with major investors including Janus Henderson, Bank of America, and California State Teachers Retirement System increasing their positions.
• Insiders have been selling shares: Executives sold a combined 344,800 shares worth approximately $6.82 million over the past 90 days, mostly through pre-arranged Rule 10b5-1 trading plans. The company reported a quarterly loss of $0.84 per share, beating estimates of a $0.91 loss.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) has earned an average recommendation of "Hold" from the seventeen research firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $24.5714.

Several analysts recently commented on the stock. BTIG Research reissued a "buy" rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 21st. HC Wainwright upped their price target on MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Needham & Company LLC increased their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. Finally, Leerink Partners raised their price objective on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st.

Insiders Place Their Bets

In other news, CEO Silva Santos sold 68,289 shares of the company's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the completion of the sale, the chief executive officer directly owned 2,774,893 shares of the company's stock, valued at $55,553,357.86. This represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $20.02, for a total value of $1,001,000.00. Following the completion of the transaction, the insider owned 2,714,746 shares of the company's stock, valued at $54,349,214.92. This trade represents a 1.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 344,800 shares of company stock worth $6,820,071 over the last ninety days. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System boosted its stake in MoonLake Immunotherapeutics by 2,414.8% in the 2nd quarter. California State Teachers Retirement System now owns 736,725 shares of the company's stock worth $14,344,000 after purchasing an additional 707,429 shares during the period. FNY Investment Advisers LLC acquired a new stake in MoonLake Immunotherapeutics during the 2nd quarter valued at $58,000. Avidity Partners Management LP purchased a new stake in shares of MoonLake Immunotherapeutics in the first quarter valued at $932,000. Bank of America Corp DE lifted its holdings in shares of 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 purchasing an additional 711,261 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of MoonLake Immunotherapeutics by 64.7% in the first quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company's stock worth $64,304,000 after buying an additional 1,355,640 shares during the period. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Trading Up 0.9%

Shares of MLTX stock opened at $15.19 on Friday. The stock has a 50-day simple moving average of $17.90 and a 200 day simple moving average of $17.90. The stock has a market capitalization of $1.29 billion, a P/E ratio of -3.96 and a beta of 1.04. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. 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 (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.84) earnings per share for the quarter, beating analysts' consensus estimates of ($0.91) by $0.07. On average, sell-side analysts expect that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current fiscal 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.

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