MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives New Coverage from Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) in a report issued on Tuesday morning, MarketBeat.com reports. The brokerage issued a neutral rating and a $62.00 target price on the stock.

Several other equities analysts have also recently weighed in on the company. William Blair restated an outperform rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, February 26th. Citigroup assumed coverage on MoonLake Immunotherapeutics in a report on Friday, December 8th. They issued a buy rating and a $72.00 price objective for the company. Wedbush restated an outperform rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. HC Wainwright restated a buy rating and issued a $75.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, March 4th. Finally, Stifel Nicolaus raised their price objective on MoonLake Immunotherapeutics from $66.00 to $69.00 and gave the company a buy rating in a report on Monday, December 18th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $72.54.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX traded down $1.35 during midday trading on Tuesday, hitting $47.25. The stock had a trading volume of 459,726 shares, compared to its average volume of 484,992. The company has a 50 day simple moving average of $53.27 and a two-hundred day simple moving average of $53.11. MoonLake Immunotherapeutics has a twelve month low of $17.82 and a twelve month high of $64.98. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -62.17 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.11. Analysts forecast that MoonLake Immunotherapeutics will post -1.11 EPS for the current fiscal year.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 4,740 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $55.89, for a total transaction of $264,918.60. Following the completion of the sale, the chief executive officer now directly owns 2,982,814 shares in the company, valued at $166,709,474.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 4,740 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $55.89, for a total transaction of $264,918.60. Following the completion of the sale, the chief executive officer now directly owns 2,982,814 shares in the company, valued at $166,709,474.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kristian Reich sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $62.43, for a total transaction of $624,300.00. Following the sale, the insider now owns 130,071 shares of the company's stock, valued at $8,120,332.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 166,981 shares of company stock worth $9,490,674. Company insiders own 15.27% of the company's stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its position in shares of MoonLake Immunotherapeutics by 956.6% in the second quarter. Osaic Holdings Inc. now owns 803 shares of the company's stock valued at $41,000 after buying an additional 727 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of MoonLake Immunotherapeutics in the second quarter valued at approximately $47,000. Quarry LP acquired a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter valued at approximately $51,000. Goldman Sachs Group Inc. acquired a new stake in shares of MoonLake Immunotherapeutics in the second quarter valued at approximately $62,000. Finally, Bank of America Corp DE acquired a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter valued at approximately $83,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.