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

Key Points

• MoonLake Immunotherapeutics (NASDAQ:MLTX) received a consensus rating of “Hold” from 14 analysts, with an average target price of $36.00.
• The company reported a loss of ($0.87) EPS for the last quarter, which was below analysts' expectations of ($0.73).
• A major shareholder, Bihua Chen, sold 6.49 million shares in September, reducing their ownership by 76.45%.

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) have received a consensus rating of "Hold" from the fourteen analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $36.00.

MLTX has been the subject of a number of analyst reports. BTIG Research cut MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating and set a $85.00 price objective for the company. in a report on Monday, September 29th. HC Wainwright cut MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating in a report on Thursday, October 2nd. Redburn Atlantic raised MoonLake Immunotherapeutics to a "hold" rating in a report on Monday, July 28th. Stifel Nicolaus cut MoonLake Immunotherapeutics from a "buy" rating to a "hold" rating and set a $13.00 price target for the company. in a report on Monday, September 29th. Finally, Rothschild & Co Redburn started coverage on MoonLake Immunotherapeutics in a report on Monday, July 28th. They issued a "neutral" rating and a $65.00 price target for the company.

MoonLake Immunotherapeutics Stock Up 3.9%

Shares of NASDAQ MLTX opened at $10.66 on Tuesday. The stock has a market cap of $684.69 million, a PE ratio of -3.83 and a beta of 1.10. The business has a fifty day moving average of $44.81 and a two-hundred day moving average of $43.84. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 16.65 and a current ratio of 16.65.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.14). During the same quarter in the prior year, the company earned ($0.39) earnings per share. As a group, equities research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Bihua Chen sold 6,494,151 shares of MoonLake Immunotherapeutics stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $7.21, for a total value of $46,822,828.71. Following the completion of the transaction, the insider directly owned 2,000,000 shares of the company's stock, valued at $14,420,000. The trade was a 76.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 12.05% of the stock is owned by corporate insiders.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLTX. Moody Aldrich Partners LLC bought a new stake in MoonLake Immunotherapeutics during the 1st quarter worth about $2,158,000. Envestnet Asset Management Inc. raised its holdings in MoonLake Immunotherapeutics by 58.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 14,225 shares of the company's stock worth $556,000 after purchasing an additional 5,254 shares during the last quarter. New York State Common Retirement Fund bought a new stake in MoonLake Immunotherapeutics during the 1st quarter worth about $273,000. Rice Hall James & Associates LLC raised its holdings in MoonLake Immunotherapeutics by 23.7% during the 1st quarter. Rice Hall James & Associates LLC now owns 137,516 shares of the company's stock worth $5,373,000 after purchasing an additional 26,383 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in MoonLake Immunotherapeutics by 44.6% during the 1st quarter. Victory Capital Management Inc. now owns 258,150 shares of the company's stock worth $10,086,000 after purchasing an additional 79,649 shares during the last quarter. 93.85% of the stock is owned by institutional investors.

About MoonLake Immunotherapeutics

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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