MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Expected to Rise, HC Wainwright Analyst Says

Key Points

• HC Wainwright raised MoonLake Immunotherapeutics’ price target to $50 from $45 and maintained a “Buy” rating, implying approximately 190% upside from the prior close.
• Analyst sentiment is mixed: 10 analysts rate the stock a Buy, four Hold and three Sell, producing a consensus “Hold” rating and $24.57 price target.
• MoonLake reported quarterly EPS of negative $0.84, beating expectations of negative $0.91. Shares opened at $17.23, while insiders sold 344,800 shares worth about $6.82 million over the past three months.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) had its price target boosted by HC Wainwright from $45.00 to $50.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price would suggest a potential upside of 190.19% from the company's previous close.

A number of other research analysts also recently commented on the stock. Leerink Partners lifted their price objective on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. 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. Weiss Ratings reiterated a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a report on Friday, August 7th. Finally, Needham & Company LLC lifted their price target on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $24.57.

MoonLake Immunotherapeutics Stock Up 3.9%

Shares of MLTX stock opened at $17.23 on Thursday. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average of $18.98 and a 200-day moving average of $17.90. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -4.49 and a beta of 1.06.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.07. As a group, equities research analysts predict that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Da Silva Jorge Santos sold 68,289 shares of the business's stock in a transaction dated 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 owned 2,774,893 shares of the company's stock, valued at $55,553,357.86. The trade was a 2.40% 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. 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 dated Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the sale, the insider owned 2,714,746 shares in the company, valued at $54,349,214.92. The trade was a 1.81% decrease in their ownership of the stock. 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. Insiders have sold 344,800 shares of company stock worth $6,820,071 in the last three months. 10.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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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