MoonLake Immunotherapeutics' (MLTX) "Buy" Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) in a research report report published on Thursday, Benzinga reports. They currently have a $100.00 price target on the stock.

A number of other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They issued a neutral rating and a $62.00 price objective for the company. Wedbush reaffirmed an outperform rating and set a $92.00 price target on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. William Blair reissued an outperform rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday, February 26th. Wolfe Research assumed coverage on MoonLake Immunotherapeutics in a research report on Thursday, February 15th. They set an outperform rating and a $77.00 target price for the company. Finally, Stifel Nicolaus boosted their price target on shares of MoonLake Immunotherapeutics from $66.00 to $69.00 and gave the stock a buy rating in a report on Monday, December 18th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $74.46.

MoonLake Immunotherapeutics Stock Down 1.1 %

MLTX stock traded down $0.53 during mid-day trading on Thursday, reaching $45.65. 237,557 shares of the company traded hands, compared to its average volume of 475,788. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -60.06 and a beta of 1.20. MoonLake Immunotherapeutics has a fifty-two week low of $17.82 and a fifty-two week high of $64.98. The firm's 50 day moving average price is $51.80 and its 200 day moving average price is $52.69.

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

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 20,000 shares of the business's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $60.18, for a total transaction of $1,203,600.00. Following the sale, the chief executive officer now owns 3,147,554 shares of the company's stock, valued at approximately $189,419,799.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Kristian Reich sold 29,431 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total transaction of $1,618,705.00. Following the completion of the transaction, the insider now owns 70,071 shares of the company's stock, valued at $3,853,905. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Da Silva Jorge Santos sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $60.18, for a total transaction of $1,203,600.00. Following the sale, the chief executive officer now directly owns 3,147,554 shares in the company, valued at approximately $189,419,799.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 166,981 shares of company stock worth $9,490,674. 15.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MLTX. 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 worth $41,000 after buying an additional 727 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at about $47,000. Quarry LP bought a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at about $51,000. Goldman Sachs Group Inc. bought a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at about $62,000. Finally, Bank of America Corp DE purchased a new position in shares of MoonLake Immunotherapeutics during the fourth quarter worth about $83,000. 93.85% of the stock is currently 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.