MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading 14.9% Higher – Should You Buy?

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price rose 14.9% on Monday . The stock traded as high as $22.30 and last traded at $22.0750. Approximately 563,487 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 1,493,285 shares. The stock had previously closed at $19.21.

Wall Street Analyst Weigh In

MLTX has been the subject of a number of research analyst reports. Wolfe Research raised MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and upped their target price for the company from $12.00 to $24.00 in a research report on Monday, March 23rd. Rothschild & Co Redburn upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $12.00 to $40.00 in a research note on Thursday, March 19th. Royal Bank Of Canada increased their price objective on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. BTIG Research restated a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Finally, Zacks Research raised shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.85.

MoonLake Immunotherapeutics Stock Performance

The stock has a market cap of $1.56 billion, a PE ratio of -5.48 and a beta of 1.04. The stock has a fifty day moving average of $18.08 and a 200-day moving average of $16.78. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39.

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

Insider Transactions at MoonLake Immunotherapeutics

In related news, CEO Da Silva Jorge Santos sold 51,873 shares of MoonLake Immunotherapeutics stock in a transaction on Monday, April 13th. The shares were sold at an average price of $18.23, for a total value of $945,644.79. Following the transaction, the chief executive officer directly owned 2,924,893 shares in the company, valued at $53,320,799.39. This trade represents a 1.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kristian Reich sold 50,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00. Following the completion of the transaction, the insider directly owned 2,824,551 shares in the company, valued at $54,881,025.93. This represents a 1.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 4,000,000 shares of company stock worth $67,630,663 over the last 90 days. 12.05% of the stock is currently owned by insiders.

Institutional Trading of MoonLake Immunotherapeutics

Several hedge funds have recently made changes to their positions in MLTX. Avidity Partners Management LP acquired a new position in shares of MoonLake Immunotherapeutics during the first quarter worth about $932,000. Bank of America Corp DE lifted its position in MoonLake Immunotherapeutics by 5,255.8% in the first quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock valued at $13,510,000 after purchasing an additional 711,261 shares during the period. Janus Henderson Group PLC lifted its position in MoonLake Immunotherapeutics by 64.7% in the first quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock valued at $64,304,000 after purchasing an additional 1,355,640 shares during the period. EverSource Wealth Advisors LLC lifted its position in MoonLake Immunotherapeutics by 221.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock valued at $53,000 after purchasing an additional 1,974 shares during the period. Finally, Readystate Asset Management LP purchased a new stake in MoonLake Immunotherapeutics in the 1st quarter valued at approximately $2,689,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.