MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• MoonLake Immunotherapeutics received a consensus “Moderate Buy” rating from 16 analysts, with 11 buys, two holds and three sells. The average 12-month price target is $26.92, although recent targets range from $29 to $50.
• Insiders sold 244,800 shares worth approximately $4.9 million over the past three months, including sales by the CEO and another insider under pre-arranged Rule 10b5-1 trading plans; insiders retain a 10.4% ownership stake.
• The stock opened at $11.56, well below its 52-week high of $23.29, while MoonLake reported a quarterly loss of $0.84 per share—better than the $0.91 analyst estimate. Institutional investors and hedge funds own 93.85% of the shares.

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the sixteen ratings firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, two have given a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $26.92.

A number of research firms have issued reports on MLTX. Leerink Partners increased their price target on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. HC Wainwright lifted their price objective on shares of MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. BTIG Research reiterated a "buy" rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Cantor Fitzgerald reissued an "overweight" rating on shares of MoonLake Immunotherapeutics in a research note on Wednesday, September 16th. Finally, Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 21st.

Insider Transactions at MoonLake Immunotherapeutics

In related news, CEO Silva Santos sold 68,289 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 2,774,893 shares of the company's stock, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 that occurred on 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 completion of the transaction, 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. Insiders have sold a total of 244,800 shares of company stock worth $4,904,071 in the last three months. Insiders own 10.40% of the company's stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently modified their holdings of MLTX. Allworth Financial LP increased its stake in MoonLake Immunotherapeutics by 156.2% during the 2nd quarter. Allworth Financial LP now owns 1,714 shares of the company's stock valued at $33,000 after purchasing an additional 1,045 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of MoonLake Immunotherapeutics in the second quarter valued at $39,000. EverSource Wealth Advisors LLC grew its holdings in shares of MoonLake Immunotherapeutics by 221.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company's stock valued at $53,000 after buying an additional 1,974 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of MoonLake Immunotherapeutics during the second quarter valued at about $58,000. Finally, Arizona State Retirement System bought a new stake in shares of MoonLake Immunotherapeutics during the second quarter worth about $233,000. 93.85% of the stock is owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Stock Down 4.0%

Shares of MoonLake Immunotherapeutics stock opened at $11.56 on Tuesday. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $23.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 12.56 and a quick ratio of 12.56. The stock's 50-day moving average is $15.69 and its 200 day moving average is $17.31. The firm has a market cap of $983.87 million, a price-to-earnings ratio of -3.01 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($0.91) by $0.07. Equities research analysts anticipate that MoonLake Immunotherapeutics will post -3.34 EPS for the current year.

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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