MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $79.00 Consensus Target Price from Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $79.00.

A number of equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 14th. Wedbush reissued an “outperform” rating and set a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Wolfe Research lowered shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd.

Insider Transactions at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the sale, the director now directly owns 171,980 shares in the company, valued at $9,238,765.60. This represents a 49.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. US Bancorp DE purchased a new position in MoonLake Immunotherapeutics in the 3rd quarter valued at approximately $44,000. Quarry LP boosted its holdings in MoonLake Immunotherapeutics by 172.7% in the second quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $132,000 after purchasing an additional 1,900 shares during the period. Bellevue Group AG acquired a new position in MoonLake Immunotherapeutics during the 1st quarter worth $221,000. Barclays PLC increased its holdings in MoonLake Immunotherapeutics by 1,269.2% during the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after purchasing an additional 5,229 shares during the period. Finally, DNB Asset Management AS raised its position in MoonLake Immunotherapeutics by 29.8% in the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock valued at $324,000 after purchasing an additional 1,694 shares in the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Up 2.6 %

Shares of NASDAQ MLTX opened at $54.24 on Friday. The firm has a 50-day simple moving average of $50.23 and a 200-day simple moving average of $46.19. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -42.05 and a beta of 1.28. MoonLake Immunotherapeutics has a 52 week low of $37.55 and a 52 week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same quarter in the prior year, the business posted ($0.18) EPS. As a group, equities research analysts expect that MoonLake Immunotherapeutics will post -1.74 EPS for the current year.

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.