MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• MoonLake Immunotherapeutics received a "sell (D-)" rating from Weiss Ratings, highlighting concerns about the company's stock performance.
• Several analysts have downgraded the stock, with Goldman Sachs issuing a "neutral" rating and a price target of $7.00, while Needham & Company cut their price target from $66.00 to $20.00.
• The company's stock is currently trading at approximately $9.10, significantly below its 12-month high of $62.75, amidst reports of poor quarterly earnings.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s stock had its "sell (d-)" rating reissued by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also commented on the company. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $7.00 price target on shares of MoonLake Immunotherapeutics in a research note on Wednesday, October 1st. Wolfe Research lowered shares of MoonLake Immunotherapeutics from an "outperform" rating to an "underperform" rating in a research note on Tuesday, September 30th. Needham & Company LLC reduced their price target on shares of MoonLake Immunotherapeutics from $66.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, September 30th. Jefferies Financial Group cut shares of MoonLake Immunotherapeutics from a "buy" rating to a "hold" rating and set a $8.00 price objective for the company. in a research report on Monday, September 29th. Finally, Rothschild & Co Redburn started coverage on MoonLake Immunotherapeutics in a research report on Monday, July 28th. They issued a "neutral" rating and a $65.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, MoonLake Immunotherapeutics currently has an average rating of "Hold" and an average target price of $36.00.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX stock opened at $9.10 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 16.65 and a quick ratio of 16.65. The firm's 50-day moving average is $47.34 and its two-hundred day moving average is $44.40. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75. The company has a market capitalization of $584.50 million, a PE ratio of -3.27 and a beta of 1.10.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same quarter last year, the firm earned ($0.39) EPS. Analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Insider Transactions at MoonLake Immunotherapeutics

In other news, major shareholder Bihua Chen sold 5,827 shares of MoonLake Immunotherapeutics stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $6.96, for a total value of $40,555.92. Following the completion of the transaction, the insider owned 1,994,173 shares in the company, valued at approximately $13,879,444.08. This trade represents a 0.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of large investors have recently modified their holdings of MLTX. Geode Capital Management LLC grew its stake in shares of 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 purchasing an additional 559 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of MoonLake Immunotherapeutics by 3.7% during the 2nd quarter. Squarepoint Ops LLC now owns 17,571 shares of the company's stock worth $829,000 after acquiring an additional 629 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of MoonLake Immunotherapeutics by 8.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,200 shares of the company's stock valued at $359,000 after acquiring an additional 700 shares during the last quarter. MPM Bioimpact LLC raised its position in shares of MoonLake Immunotherapeutics by 0.3% during the 1st quarter. MPM Bioimpact LLC now owns 316,049 shares of the company's stock worth $12,348,000 after acquiring an additional 819 shares in the last quarter. Finally, US Bancorp DE lifted its stake in MoonLake Immunotherapeutics by 114.4% during the first quarter. US Bancorp DE now owns 2,208 shares of the company's stock worth $86,000 after purchasing an additional 1,178 shares during the last quarter. 93.85% of the stock is owned by hedge funds and other 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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