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

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $100.00 target price on the stock. HC Wainwright's price objective suggests a potential upside of 134.58% from the company's current price.

Other equities research analysts have also recently issued reports about the company. William Blair reaffirmed an "outperform" rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday, February 26th. The Goldman Sachs Group started coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They issued a "neutral" rating and a $62.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $66.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday. Wolfe Research assumed coverage on MoonLake Immunotherapeutics in a report on Thursday, February 15th. They set an "outperform" rating and a $77.00 price objective for the company. Finally, Wedbush reiterated an "outperform" rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $74.46.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX traded down $1.03 during trading hours on Wednesday, hitting $42.63. The company's stock had a trading volume of 125,713 shares, compared to its average volume of 440,025. MoonLake Immunotherapeutics has a 12 month low of $24.31 and a 12 month high of $64.98. The company's 50 day simple moving average is $46.03 and its two-hundred day simple moving average is $50.77. The company has a market cap of $2.72 billion, a P/E ratio of -56.09 and a beta of 1.29.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03). As a group, research analysts predict that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current fiscal year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 10,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $62.43, for a total value of $624,300.00. Following the transaction, the insider now owns 130,071 shares in the company, valued at $8,120,332.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 20,000 shares of the firm's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $60.18, for a total value of $1,203,600.00. Following the completion of the transaction, the chief executive officer now owns 3,147,554 shares of the company's stock, valued at $189,419,799.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kristian Reich sold 10,000 shares of the company's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $62.43, for a total value of $624,300.00. Following the completion of the transaction, the insider now directly owns 130,071 shares in the company, valued at $8,120,332.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,981 shares of company stock valued at $9,490,674. 15.27% of the stock is currently owned by corporate insiders.

Institutional Trading of MoonLake Immunotherapeutics

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in MoonLake Immunotherapeutics in the first quarter valued at approximately $726,000. PNC Financial Services Group Inc. boosted its holdings in shares of MoonLake Immunotherapeutics by 50.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company's stock valued at $371,000 after acquiring an additional 2,067 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth $4,976,000. Quarry LP purchased a new position in shares of MoonLake Immunotherapeutics during the fourth quarter worth $51,000. Finally, Price T Rowe Associates Inc. MD lifted its position in MoonLake Immunotherapeutics by 9.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company's stock valued at $139,744,000 after purchasing an additional 196,144 shares during the period. Hedge funds and other institutional investors own 93.85% of the company's stock.

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.