MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $25.77 Average Target Price from Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been given a consensus recommendation of “Hold” by the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $25.7692.

Several brokerages have recently issued reports on MLTX. 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. The Goldman Sachs Group downgraded MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $8.00 to $10.00 in a research report on Wednesday, January 14th. BTIG Research restated a “buy” rating and set a $24.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, February 9th. Zacks Research lowered shares of MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, Citigroup lowered shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 29th.

MoonLake Immunotherapeutics Trading Up 5.3%

Shares of MLTX stock opened at $18.45 on Monday. The stock has a market capitalization of $1.19 billion, a P/E ratio of -5.56 and a beta of 1.21. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 8.50 and a current ratio of 8.50. The company has a 50 day moving average price of $15.07 and a 200 day moving average price of $24.77.

Insider Transactions at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 70,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $14.49, for a total transaction of $1,014,300.00. Following the transaction, the chief executive officer owned 2,878,577 shares of the company’s stock, valued at $41,710,580.73. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kristian Reich sold 72,908 shares of MoonLake Immunotherapeutics stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $14.43, for a total transaction of $1,052,062.44. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 402,908 shares of company stock valued at $5,987,162. Insiders own 12.02% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of MLTX. Millennium Management LLC increased its stake in shares of MoonLake Immunotherapeutics by 3,343.2% during 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. Jennison Associates LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter worth about $2,941,000. Geode Capital Management LLC lifted 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 valued at $2,809,000 after purchasing an additional 559 shares in the last quarter. JPMorgan Chase & Co. increased its position in MoonLake Immunotherapeutics by 4,584.5% during the second quarter. JPMorgan Chase & Co. now owns 39,397 shares of the company’s stock worth $1,860,000 after buying an additional 38,556 shares in the last quarter. Finally, Legal & General Group Plc raised 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 last quarter. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

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.