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

Key Points

• Analysts have a consensus “Hold” rating on MoonLake Immunotherapeutics, with 10 buys, four holds and three sells among 17 analysts. The average 12-month price target is $24.21.
• Recent analyst targets range from $29 to $45, including buy or outperform ratings from BTIG Research, HC Wainwright, Needham and Leerink Partners.
• Insiders sold 344,800 shares worth approximately $6.82 million over the past 90 days, while institutional investors own a substantial 93.85% of the company’s stock.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) has been given an average recommendation of "Hold" by the seventeen research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $24.2143.

A number of equities analysts have commented on the stock. BTIG Research reaffirmed a "buy" rating and set a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Weiss Ratings reissued a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. HC Wainwright restated a "buy" rating and set a $45.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, July 20th. Needham & Company LLC lifted their target price on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Finally, Leerink Partners lifted their target price on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st.

Insider Buying and Selling

In other news, CEO Da Silva Jorge Santos sold 68,289 shares of the 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 owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the insider owned 2,714,746 shares in the company, valued at approximately $54,349,214.92. This trade represents 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. In the last 90 days, insiders have sold 344,800 shares of company stock valued at $6,820,071. Corporate insiders own 10.40% of the company's stock.

Institutional Trading of MoonLake Immunotherapeutics

Institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new position in MoonLake Immunotherapeutics during the 4th quarter worth $26,000. Bank of America Corp DE boosted its position in shares of MoonLake Immunotherapeutics by 64.7% in the third quarter. Bank of America Corp DE now owns 4,532 shares of the company's stock valued at $32,000 after acquiring an additional 1,781 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MoonLake Immunotherapeutics by 115.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company's stock valued at $42,000 after acquiring an additional 3,166 shares during the period. Russell Investments Group Ltd. boosted its position in shares of MoonLake Immunotherapeutics by 45.4% in the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company's stock valued at $45,000 after acquiring an additional 1,069 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at about $47,000. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX opened at $18.26 on Monday. 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 company has a market capitalization of $1.34 billion, a P/E ratio of -4.72 and a beta of 1.06. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75. The stock has a 50 day moving average of $19.05 and a 200-day moving average of $17.88.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly 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). As a group, equities research analysts predict that MoonLake Immunotherapeutics will post -3.64 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source