MoonLake Immunotherapeutics (NASDAQ:MLTX) Given New $12.00 Price Target at Royal Bank Of Canada

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price objective increased by research analysts at Royal Bank Of Canada from $10.00 to $12.00 in a report issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential downside of 32.51% from the company’s previous close.

A number of other analysts have also recently commented on the stock. BTIG Research reiterated a “buy” rating and issued a $24.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday, February 9th. Zacks Research lowered MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. The Goldman Sachs Group cut MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $8.00 to $10.00 in a research report on Wednesday, January 14th. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, February 3rd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, MoonLake Immunotherapeutics currently has an average rating of “Hold” and an average target price of $25.92.

MoonLake Immunotherapeutics Stock Down 2.1%

Shares of MoonLake Immunotherapeutics stock traded down $0.39 during trading on Friday, reaching $17.78. The stock had a trading volume of 52,296 shares, compared to its average volume of 2,654,236. The company has a current ratio of 8.50, a quick ratio of 8.50 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -5.31 and a beta of 1.21. MoonLake Immunotherapeutics has a 52 week low of $5.95 and a 52 week high of $62.75. The stock has a fifty day moving average price of $15.16 and a two-hundred day moving average price of $24.73.

Insider Transactions at MoonLake Immunotherapeutics

In other news, insider Kristian Reich sold 72,908 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $14.43, for a total transaction of $1,052,062.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Da Silva Jorge Santos sold 70,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $14.49, for a total value of $1,014,300.00. Following the sale, the chief executive officer owned 2,878,577 shares of the company’s stock, valued at approximately $41,710,580.73. This represents a 2.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 402,908 shares of company stock valued at $5,987,162. Company insiders own 12.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Elevation Point Wealth Partners LLC purchased a new stake in MoonLake Immunotherapeutics in the second quarter worth $74,000. Kestra Advisory Services LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter worth $26,000. Russell Investments Group Ltd. boosted its holdings in shares of MoonLake Immunotherapeutics by 45.4% in the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after acquiring an additional 1,069 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $47,000. Finally, FNY Investment Advisers LLC purchased a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth about $28,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Company Profile

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.