MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Buy Rating from HC Wainwright

Key Points

• HC Wainwright reaffirmed its buy rating on MoonLake Immunotherapeutics and set a $45 price target, implying roughly 129% upside from the current share price.
• Other analysts have been mixed on MLTX, but the overall Street view remains more cautious: the stock has a consensus rating of Hold and an average price target of $24.21.
• MoonLake’s latest results showed a loss of $0.98 per share, missing estimates, while insiders have also been selling shares recently through pre-arranged trading plans.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Monday, Marketbeat.com reports. They currently have a $45.00 price target on the stock. HC Wainwright's target price would suggest a potential upside of 128.66% from the company's current price.

MLTX has been the topic of a number of other reports. Needham & Company LLC lifted 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. Weiss Ratings reissued a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from an "underperform" rating to an "outperform" rating and raised their target price for the stock from $12.00 to $24.00 in a research note on Monday, March 23rd. Leerink Partners lifted their price target on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. Finally, BTIG Research reiterated a "buy" rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, MoonLake Immunotherapeutics presently has a consensus rating of "Hold" and a consensus price target of $24.21.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $19.68 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -5.09 and a beta of 1.04. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The business has a fifty day moving average price of $18.87 and a 200-day moving average price of $17.46.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.07). Sell-side analysts forecast that MoonLake Immunotherapeutics will post -3.71 EPS for the current year.

Insider Activity

In related news, insider Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $19.43, for a total transaction of $971,500.00. Following the sale, the insider owned 2,824,551 shares of the company's stock, valued at approximately $54,881,025.93. This trade represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Da Silva Jorge Santos sold 68,289 shares of the business'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 value of $1,367,145.78. Following the completion of the transaction, the chief executive officer directly owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their ownership of the stock. 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 sold 250,000 shares of company stock worth $4,919,138 over the last 90 days. Company insiders own 12.02% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLTX. Geode Capital Management LLC boosted its stake in MoonLake Immunotherapeutics by 0.9% during the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company's stock worth $2,809,000 after buying an additional 559 shares during the period. Squarepoint Ops LLC increased its position in MoonLake Immunotherapeutics by 3.7% during the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company's stock valued at $829,000 after acquiring an additional 629 shares during the last quarter. Axiom Investors LLC DE raised its stake in shares of MoonLake Immunotherapeutics by 3.2% in the fourth quarter. Axiom Investors LLC DE now owns 25,998 shares of the company's stock valued at $343,000 after acquiring an additional 818 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of MoonLake Immunotherapeutics by 45.4% in the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company's stock worth $45,000 after acquiring an additional 1,069 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of MoonLake Immunotherapeutics by 18.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company's stock worth $52,000 after purchasing an additional 1,158 shares during the period. 93.85% of the stock is currently owned by institutional investors.

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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