HC Wainwright Forecasts Strong Price Appreciation for MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock

Key Points

• HC Wainwright raised its price target on MoonLake Immunotherapeutics to $45 from $40 and kept a buy rating, implying about 163.8% upside from the prior close.
• Other analysts remain mixed: recent target increases came from Needham, Oppenheimer, and BTIG, while Goldman Sachs downgraded the stock. Overall, the consensus rating is Hold with an average price target of $23.46.
• The company’s latest quarterly loss matched expectations at ($0.92) EPS, and insider selling has been notable, including a large sale by a director and shares sold by the CEO over the last 90 days.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) had its price objective raised by equities research analysts at HC Wainwright from $40.00 to $45.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 163.77% from the company's previous close.

A number of other brokerages also recently issued reports on MLTX. Needham & Company LLC raised their price objective on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, February 23rd. Oppenheimer raised their price objective on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 24th. Zacks Research raised MoonLake Immunotherapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 24th. The Goldman Sachs Group downgraded MoonLake Immunotherapeutics from a "neutral" rating to a "sell" rating and raised their price objective for the stock from $8.00 to $10.00 in a research report on Wednesday, January 14th. Finally, BTIG Research reissued a "buy" rating and set a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday, March 30th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $23.46.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $17.06 on Monday. The stock has a fifty day simple moving average of $17.47 and a two-hundred day simple moving average of $15.19. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.22 billion, a PE ratio of -4.85 and a beta of 1.01. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.92) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.92). During the same period last year, the company earned ($0.72) EPS. As a group, equities analysts forecast that MoonLake Immunotherapeutics will post -3.42 EPS for the current year.

Insider Activity

In other MoonLake Immunotherapeutics news, Director Bvf Partners L. P/Il sold 3,750,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total value of $62,962,500.00. Following the completion of the transaction, the director directly owned 1,039,238 shares of the company's stock, valued at $17,448,806.02. The trade was a 78.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Da Silva Jorge Santos sold 98,127 shares of MoonLake Immunotherapeutics stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $18.41, for a total value of $1,806,518.07. Following the completion of the transaction, the chief executive officer owned 2,976,766 shares of the company's stock, valued at $54,802,262.06. The trade was a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,900,000 shares of company stock valued at $65,714,663. 12.05% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Candriam S.C.A. boosted its stake in shares of MoonLake Immunotherapeutics by 509.0% in the 1st quarter. Candriam S.C.A. now owns 818,126 shares of the company's stock valued at $15,250,000 after buying an additional 683,797 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in shares of MoonLake Immunotherapeutics by 32.4% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 127,087 shares of the company's stock valued at $2,369,000 after buying an additional 31,115 shares during the period. Hsbc Holdings PLC purchased a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at about $147,000. Virtu Financial LLC purchased a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at about $166,000. Finally, T. Rowe Price Investment Management Inc. purchased a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at about $47,000. Hedge funds and other institutional investors 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.

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