MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Buy Rating at HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $100.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 95.85% from the stock’s current price.

A number of other brokerages have also weighed in on MLTX. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Wedbush restated an “outperform” rating and issued a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.80.

MoonLake Immunotherapeutics Stock Performance

MLTX stock opened at $51.06 on Thursday. The stock’s 50 day moving average price is $49.68 and its 200 day moving average price is $45.62. The firm has a market cap of $3.26 billion, a P/E ratio of -39.58 and a beta of 1.28. MoonLake Immunotherapeutics has a 1 year low of $35.78 and a 1 year high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same quarter last year, the firm posted ($0.18) earnings per share. On average, research analysts predict that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Simon Sturge sold 171,000 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the transaction, the director now directly owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in MoonLake Immunotherapeutics by 35.8% in the 3rd quarter. FMR LLC now owns 4,950,224 shares of the company’s stock valued at $249,590,000 after buying an additional 1,306,215 shares during the last quarter. Logos Global Management LP acquired a new position in shares of MoonLake Immunotherapeutics in the second quarter worth about $32,978,000. Marshall Wace LLP grew its stake in MoonLake Immunotherapeutics by 115.0% during the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after purchasing an additional 587,684 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in MoonLake Immunotherapeutics by 48.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock worth $45,753,000 after purchasing an additional 298,823 shares during the last quarter. Finally, Avoro Capital Advisors LLC boosted its stake in shares of MoonLake Immunotherapeutics by 7.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock valued at $121,797,000 after buying an additional 190,000 shares during the last quarter. 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.