MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Gap Up on Analyst Upgrade

Key Points

• MoonLake Immunotherapeutics shares gapped up after HC Wainwright raised its price target from $40 to $45 and kept a buy rating. The stock opened at $18.24 versus a prior close of $17.06 and was last up about 18.1% intraday.
• Other analysts have also been revising their views, including price target increases from Needham, Oppenheimer, BTIG, and RBC. Overall, MarketBeat shows a consensus rating of Hold with an average price target of $23.46.
• Recent insider activity has been notable, with the CEO selling shares and a director significantly reducing their stake. Despite the insider selling, institutional investors still own 93.85% of the stock.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) gapped up before the market opened on Monday after HC Wainwright raised their price target on the stock from $40.00 to $45.00. The stock had previously closed at $17.06, but opened at $18.24. HC Wainwright currently has a buy rating on the stock. MoonLake Immunotherapeutics shares last traded at $19.9030, with a volume of 339,927 shares trading hands.

Several other research firms have also weighed in on MLTX. Zacks Research upgraded MoonLake Immunotherapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 24th. Needham & Company LLC lifted their price target on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Monday, February 23rd. Royal Bank Of Canada lifted their price target on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a "sector perform" rating in a research report on Monday, March 2nd. Oppenheimer lifted their price target on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an "outperform" rating in a research report on Tuesday, February 24th. Finally, BTIG Research restated a "buy" rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, March 30th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, MoonLake Immunotherapeutics presently has a consensus rating of "Hold" and an average price target of $23.46.

Insiders Place Their Bets

In other news, CEO Da Silva Jorge Santos sold 98,127 shares of the business's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $18.41, for a total value of $1,806,518.07. Following the completion of the transaction, the chief executive officer owned 2,976,766 shares in the company, valued at $54,802,262.06. The trade was a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bvf Partners L. P/Il sold 3,750,000 shares of the business's stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total value of $62,962,500.00. Following the completion of the transaction, the director owned 1,039,238 shares of the company's stock, valued at $17,448,806.02. This represents a 78.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,900,000 shares of company stock valued at $65,714,663 in the last quarter. 12.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MLTX. Kestra Advisory Services LLC purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth $26,000. FNY Investment Advisers LLC purchased a new position in shares of MoonLake Immunotherapeutics in the third quarter worth $28,000. Bank of America Corp DE raised its stake 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 worth $32,000 after purchasing an additional 1,781 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 worth $42,000 after purchasing an additional 3,166 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake 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 worth $45,000 after purchasing an additional 1,069 shares during the last quarter. Hedge funds and other institutional investors own 93.85% of the company's stock.

MoonLake Immunotherapeutics Stock Up 18.1%

The company has a 50 day moving average price of $17.47 and a two-hundred day moving average price of $15.19. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.27 and a quick ratio of 9.27. The stock has a market cap of $1.45 billion, a PE ratio of -5.73 and a beta of 1.01.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.92) earnings per share for the quarter, hitting the consensus estimate of ($0.92). During the same period in the previous year, the firm posted ($0.72) earnings per share. Analysts expect that MoonLake Immunotherapeutics will post -3.42 EPS for the current year.

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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