MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Rating Upgraded by Wedbush

Wedbush upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) to a strong-buy rating in a report released on Monday, Zacks.com reports.

MLTX has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, October 15th. Needham & Company LLC restated a “buy” rating and issued a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Finally, Wolfe Research lowered MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 26th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.73.

MoonLake Immunotherapeutics Trading Up 2.7 %

Shares of MoonLake Immunotherapeutics stock opened at $47.63 on Monday. MoonLake Immunotherapeutics has a 1-year low of $35.11 and a 1-year high of $64.98. The business has a 50-day moving average price of $49.09 and a two-hundred day moving average price of $45.24. The company has a market cap of $3.04 billion, a P/E ratio of -52.34 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same period last year, the company posted ($0.23) earnings per share. Equities research analysts forecast that MoonLake Immunotherapeutics will post -1.54 EPS for the current fiscal year.

Insider Activity

In related news, Director Simon Sturge sold 171,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the sale, the director now directly owns 171,980 shares in the company, valued at $9,238,765.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 12.02% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE acquired a new stake in MoonLake Immunotherapeutics during the 3rd quarter valued at approximately $44,000. Quarry LP raised its position in shares of 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 buying an additional 1,900 shares during the last quarter. Bellevue Group AG acquired a new position in shares of MoonLake Immunotherapeutics during the 1st quarter worth approximately $221,000. DNB Asset Management AS increased its stake in shares of MoonLake Immunotherapeutics by 29.8% in the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock worth $324,000 after acquiring an additional 1,694 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in MoonLake Immunotherapeutics by 26.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Company Profile

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.