MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Expected to Rise, Leerink Partners Analyst Says

Key Points

• Leerink Partners raised its price target on MoonLake Immunotherapeutics from $24 to $29 and kept an “outperform” rating, implying about 46% upside from the current share price.
• Other analysts remain mixed: several firms have issued bullish targets as high as $45, but the broader consensus rating is still Hold with an average target of $24.21.
• MoonLake reported a wider-than-expected quarterly loss, and insiders have recently sold shares, though institutional investors continue to own the vast majority of the stock.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) had its price objective increased by equities research analysts at Leerink Partners from $24.00 to $29.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Leerink Partners' target price indicates a potential upside of 46.16% from the company's current price.

MLTX has been the subject of several other research reports. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from an "underperform" rating to an "outperform" rating and upped their price target for the company from $12.00 to $24.00 in a research report on Monday, March 23rd. BTIG Research reissued a "buy" rating and set a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Needham & Company LLC lifted their price objective on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. HC Wainwright reiterated a "buy" rating and set a $45.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, June 8th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $24.21.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $19.84 on Wednesday. The stock's 50-day moving average is $18.23 and its two-hundred day moving average is $16.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60. MoonLake Immunotherapeutics has a 1 year low of $5.95 and a 1 year high of $62.75. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -5.11 and a beta of 1.04.

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

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 98,127 shares of the company'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 sale, the chief executive officer owned 2,976,766 shares of the company's stock, valued at approximately $54,802,262.06. This represents 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 accessible through the SEC website. Also, insider Kristian Reich sold 50,000 shares of the firm's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total value of $971,500.00. Following the completion of the transaction, the insider owned 2,824,551 shares of the company's stock, valued at approximately $54,881,025.93. This represents a 1.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 250,000 shares of company stock valued at $4,668,163. 12.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in MoonLake Immunotherapeutics by 0.9% during the 2nd 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 stake 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 purchasing an additional 629 shares during the last quarter. Axiom Investors LLC DE grew its holdings in shares of MoonLake Immunotherapeutics by 3.2% during the fourth quarter. Axiom Investors LLC DE now owns 25,998 shares of the company's stock worth $343,000 after buying an additional 818 shares in the last quarter. Russell Investments Group Ltd. raised 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 buying an additional 1,069 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of MoonLake Immunotherapeutics by 18.9% in the third quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company's stock valued at $52,000 after buying an additional 1,158 shares during the last quarter. 93.85% of the stock is 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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