MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Consensus Recommendation of “Hold” by Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX) has earned an average rating of “Hold” from the sixteen ratings firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $23.8462.

MLTX has been the subject of a number of research analyst reports. HC Wainwright lifted their target price on MoonLake Immunotherapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Wolfe Research raised MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $12.00 to $24.00 in a report on Monday, March 23rd. Oppenheimer lifted their target price on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. BTIG Research reissued a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday, March 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th.

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, Director Bvf Partners L. P/Il sold 3,750,000 shares of MoonLake Immunotherapeutics stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total value of $62,962,500.00. Following the completion of the sale, the director owned 1,039,238 shares of the company’s stock, valued at approximately $17,448,806.02. This trade represents a 78.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Da Silva Jorge Santos sold 51,873 shares of MoonLake Immunotherapeutics stock in a transaction on Monday, April 13th. The stock was sold at an average price of $18.23, for a total value of $945,644.79. Following the completion of the sale, the chief executive officer directly owned 2,924,893 shares of the company’s stock, valued at $53,320,799.39. The trade was a 1.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,900,000 shares of company stock valued at $65,714,663. Corporate insiders own 12.05% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Several large investors have recently modified their holdings of MLTX. Millennium Management LLC grew its holdings in shares of MoonLake Immunotherapeutics by 3,343.2% in the first quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock worth $13,453,000 after acquiring an additional 334,320 shares during the period. Geode Capital Management LLC grew its holdings in shares of 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 during the period. JPMorgan Chase & Co. grew its holdings in shares of MoonLake Immunotherapeutics by 4,584.5% in the second quarter. JPMorgan Chase & Co. now owns 39,397 shares of the company’s stock worth $1,860,000 after acquiring an additional 38,556 shares during the period. Legal & General Group Plc grew its holdings in shares of MoonLake Immunotherapeutics by 7.3% in the second quarter. Legal & General Group Plc now owns 20,905 shares of the company’s stock worth $987,000 after acquiring an additional 1,425 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in shares of MoonLake Immunotherapeutics in the second quarter worth $593,000. Institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Down 5.0%

MLTX stock opened at $17.87 on Wednesday. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39. The firm has a market cap of $1.32 billion, a PE ratio of -4.62 and a beta of 1.04. The business has a 50 day moving average of $17.64 and a 200 day moving average of $16.15.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). On average, research analysts forecast that MoonLake Immunotherapeutics will post -3.71 EPS for the current fiscal year.

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.