MoonLake Immunotherapeutics’ (MLTX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a report published on Monday, MarketBeat.com reports. The brokerage currently has a $50.00 price objective on the stock.

A number of other analysts have also commented on the stock. BTIG Research restated a “buy” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Weiss Ratings raised shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Wall Street Zen cut shares of MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, September 27th. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Wednesday, September 16th. Finally, Leerink Partners raised their price target on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $28.50.

MoonLake Immunotherapeutics Trading Down 1.6%

Shares of MoonLake Immunotherapeutics stock opened at $10.77 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 12.56 and a current ratio of 12.56. MoonLake Immunotherapeutics has a 52 week low of $8.80 and a 52 week high of $23.29. The stock has a 50 day moving average price of $14.59 and a two-hundred day moving average price of $17.03. The stock has a market capitalization of $916.63 million, a PE ratio of -2.80 and a beta of 1.08.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Monday, August 10th. The company reported ($0.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.07. As a group, equities analysts anticipate that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current fiscal year.

Insider Activity

In other MoonLake Immunotherapeutics news, CEO Silva Santos sold 68,289 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $20.02, for a total value of $1,367,145.78. Following the completion of the sale, the chief executive officer directly owned 2,774,893 shares of the company’s stock, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the completion of the sale, the insider owned 2,714,746 shares of the company’s stock, valued at approximately $54,349,214.92. This trade represents a 1.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 163,089 shares of company stock worth $3,268,079. 10.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently modified their holdings of the business. Congress Asset Management Co. grew its holdings in shares of MoonLake Immunotherapeutics by 24.1% in the third quarter. Congress Asset Management Co. now owns 223,883 shares of the company’s stock valued at $2,619,000 after acquiring an additional 43,435 shares in the last quarter. Engineers Gate Manager LP bought a new stake in MoonLake Immunotherapeutics during the second quarter worth $2,173,000. Integrated Wealth Concepts LLC bought a new stake in MoonLake Immunotherapeutics during the second quarter worth $39,000. Allworth Financial LP boosted its position in MoonLake Immunotherapeutics by 156.2% in the second quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Arizona State Retirement System purchased a new position in MoonLake Immunotherapeutics in the second quarter worth $233,000. 93.85% of the stock is owned by institutional investors.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for inflammatory and immunologic diseases. The company is headquartered in Zug, Switzerland, and its ordinary shares trade on the Nasdaq under the symbol MLTX.

MoonLake’s primary product candidate is sonelokimab, a novel Nanobody-based inhibitor designed to selectively target interleukin-17A and interleukin-17F, two cytokines involved in inflammation. The company is evaluating sonelokimab in conditions including hidradenitis suppurativa, psoriatic arthritis and axial spondyloarthritis, with the goal of addressing significant unmet needs in chronic inflammatory disease.

MoonLake was established to advance sonelokimab and related immunology programs and has developed its business around a Nanobody-based drug-development platform.