MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Average Recommendation of "Hold" from Analysts

Key Points

• MoonLake Immunotherapeutics has a consensus analyst rating of “Hold” from 17 covering firms, with 10 buy ratings, 4 holds, and 3 sells. The average 1-year price target is about $24.21.
• The company recently reported a quarterly EPS loss of $0.98, missing analyst estimates of $0.91 in losses, and analysts currently expect -3.71 EPS for the full fiscal year.
• Insider selling has been notable, including CEO Da Silva Jorge Santos selling 68,289 shares in July; insiders sold a total of 250,000 shares over the last quarter.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) has received a consensus recommendation of "Hold" from the seventeen ratings firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $24.2143.

A number of brokerages have recently commented on MLTX. Weiss Ratings reissued a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. BTIG Research reiterated a "buy" rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from an "underperform" rating to an "outperform" rating and raised their target price for the company from $12.00 to $24.00 in a research note on Monday, March 23rd. Leerink Partners lifted 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. Finally, HC Wainwright reissued a "buy" rating and set a $45.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, June 8th.

MoonLake Immunotherapeutics Price Performance

NASDAQ:MLTX opened at $19.96 on Thursday. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $18.78 and a 200 day simple moving average of $17.38. The stock has a market capitalization of $1.47 billion, a PE ratio of -5.16 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its earnings results on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.07). On average, research analysts expect that MoonLake Immunotherapeutics will post -3.71 EPS for the current fiscal year.

Insider Activity at MoonLake Immunotherapeutics

In related news, CEO Da Silva Jorge Santos sold 68,289 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $20.02, for a total value of $1,367,145.78. Following the sale, the chief executive officer owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total value of $971,500.00. Following the completion of the sale, the insider owned 2,824,551 shares in the company, valued at approximately $54,881,025.93. This trade represents a 1.74% 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 a total of 250,000 shares of company stock valued at $4,919,138 over the last quarter. 12.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Cormorant Asset Management LP lifted its stake in shares of MoonLake Immunotherapeutics by 118.4% during the 4th quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company's stock worth $57,405,000 after buying an additional 2,361,260 shares during the last quarter. Janus Henderson Group PLC grew its stake in MoonLake Immunotherapeutics by 64.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company's stock valued at $64,304,000 after buying an additional 1,355,640 shares during the last quarter. Logos Global Management LP acquired a new position in MoonLake Immunotherapeutics in the 4th quarter valued at about $23,065,000. Weiss Asset Management LP raised its holdings in MoonLake Immunotherapeutics by 413.1% in the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company's stock valued at $31,843,000 after acquiring an additional 1,375,367 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in MoonLake Immunotherapeutics by 17.8% in the 2nd quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company's stock valued at $53,715,000 after acquiring an additional 171,932 shares during the period. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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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