BTIG Research Reaffirms “Buy” Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reiterated by equities researchers at BTIG Research in a research report issued on Tuesday,Benzinga reports. They currently have a $30.00 target price on the stock. BTIG Research’s target price indicates a potential upside of 66.67% from the company’s current price.

MLTX has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and set a $45.00 price target on shares of MoonLake Immunotherapeutics in a report on Monday. Wolfe Research raised MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and raised their price objective for the stock from $12.00 to $24.00 in a research report on Monday, March 23rd. Needham & Company LLC raised their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada raised their price objective on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Finally, Rothschild & Co Redburn raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $12.00 to $40.00 in a research report on Thursday, March 19th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of “Hold” and a consensus target price of $23.85.

MoonLake Immunotherapeutics Stock Up 0.6%

NASDAQ MLTX opened at $18.00 on Tuesday. MoonLake Immunotherapeutics has a 52 week low of $5.95 and a 52 week 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 business’s fifty day simple moving average is $17.74 and its 200-day simple moving average is $16.33. The firm has a market cap of $1.33 billion, a PE ratio of -4.65 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.07). As a group, equities analysts anticipate that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current year.

Insider Activity

In other MoonLake Immunotherapeutics news, Director Bvf Partners L. P/Il sold 3,750,000 shares of MoonLake Immunotherapeutics stock in a transaction dated 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 transaction, the director directly owned 1,039,238 shares of the company’s stock, valued at $17,448,806.02. The trade was a 78.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Da Silva Jorge Santos sold 98,127 shares of MoonLake Immunotherapeutics stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $18.41, for a total value of $1,806,518.07. Following the completion of the transaction, the chief executive officer directly owned 2,976,766 shares of the company’s stock, valued at approximately $54,802,262.06. This represents a 3.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,900,000 shares of company stock valued at $65,714,663. 12.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC boosted its stake in shares of MoonLake Immunotherapeutics by 3,343.2% in the 1st quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock valued at $13,453,000 after buying an additional 334,320 shares during the period. Geode Capital Management LLC raised its holdings in shares of MoonLake Immunotherapeutics by 0.9% in the 2nd 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. raised its holdings in shares of MoonLake Immunotherapeutics by 4,584.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 39,397 shares of the company’s stock valued at $1,860,000 after purchasing an additional 38,556 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of MoonLake Immunotherapeutics by 7.3% in the 2nd quarter. Legal & General Group Plc now owns 20,905 shares of the company’s stock valued at $987,000 after purchasing an additional 1,425 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at $593,000. 93.85% of the stock is owned by institutional investors and hedge funds.

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.