MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Buy Rating at BTIG Research

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reissued by BTIG Research in a research note issued on Monday,Benzinga reports. They presently have a $24.00 price objective on the stock. BTIG Research’s target price would suggest a potential upside of 52.42% from the stock’s previous close.

MLTX has been the topic of several other reports. Zacks Research lowered shares of MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Oppenheimer reissued an “outperform” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 6th. The Goldman Sachs Group lowered shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and raised their price target for the company from $8.00 to $10.00 in a research report on Wednesday, January 14th. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, February 3rd. Finally, UBS Group set a $24.00 price objective on shares of MoonLake Immunotherapeutics in a report on Friday, January 9th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.77.

MoonLake Immunotherapeutics Trading Up 1.5%

MLTX traded up $0.24 during trading on Monday, reaching $15.75. 281,987 shares of the stock traded hands, compared to its average volume of 3,071,448. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75. The company has a quick ratio of 8.50, a current ratio of 8.50 and a debt-to-equity ratio of 0.25. The stock’s 50-day moving average is $14.73 and its 200 day moving average is $26.64. The stock has a market capitalization of $1.01 billion, a PE ratio of -4.75 and a beta of 1.20.

Insider Buying and Selling at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 130,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $15.08, for a total value of $1,960,400.00. Following the sale, the insider owned 72,908 shares in the company, valued at approximately $1,099,452.64. This trade represents a 64.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Da Silva Jorge Santos sold 130,000 shares of MoonLake Immunotherapeutics stock in a transaction on Monday, December 8th. The shares were sold at an average price of $15.08, for a total value of $1,960,400.00. Following the sale, the chief executive officer directly owned 2,948,577 shares of the company’s stock, valued at $44,464,541.16. This represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 402,908 shares of company stock valued at $5,987,162. Insiders own 12.05% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its stake in MoonLake Immunotherapeutics by 3,343.2% in the 1st quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock worth $13,453,000 after buying an additional 334,320 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter worth $2,941,000. Geode Capital Management LLC grew its position in MoonLake Immunotherapeutics by 0.9% in the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after acquiring an additional 559 shares in the last quarter. JPMorgan Chase & Co. increased its stake in MoonLake Immunotherapeutics by 4,584.5% in the second quarter. JPMorgan Chase & Co. now owns 39,397 shares of the company’s stock valued at $1,860,000 after acquiring an additional 38,556 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in MoonLake Immunotherapeutics by 7.3% in the second quarter. Legal & General Group Plc now owns 20,905 shares of the company’s stock valued at $987,000 after acquiring an additional 1,425 shares during the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immunomodulatory therapies for autoimmune and inflammatory diseases. The company leverages a proprietary platform designed to selectively modulate key immune cell populations, aiming to restore immune balance and reduce tissue damage with targeted biologic candidates.

Its lead asset, MLTX101, is a recombinant immune cell modulator in clinical development for myositis, including inclusion body myositis and dermatomyositis.