MoonLake Immunotherapeutics (NASDAQ:MLTX) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $66.00 price target on the stock.

A number of other analysts have also weighed in on the stock. Wolfe Research started coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They set an outperform rating and a $77.00 target price on the stock. William Blair restated an outperform rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Wedbush reaffirmed an outperform rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. The Goldman Sachs Group initiated coverage on MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They issued a neutral rating and a $62.00 price target for the company. Finally, HC Wainwright reaffirmed a buy rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $74.46.

MoonLake Immunotherapeutics Stock Down 0.6 %

NASDAQ:MLTX traded down $0.26 on Wednesday, reaching $42.37. 7,475 shares of the company’s stock were exchanged, compared to its average volume of 435,180. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -56.09 and a beta of 1.29. The business has a fifty day moving average of $46.03 and a 200-day moving average of $50.77. MoonLake Immunotherapeutics has a 52-week low of $24.31 and a 52-week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Tuesday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). As a group, equities analysts anticipate that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current year.

Insider Activity

In other news, CEO Da Silva Jorge Santos sold 62,810 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $55.00, for a total transaction of $3,454,550.00. Following the completion of the sale, the chief executive officer now owns 3,043,619 shares in the company, valued at $167,399,045. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kristian Reich sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $60.15, for a total transaction of $601,500.00. Following the completion of the sale, the insider now owns 110,071 shares in the company, valued at $6,620,770.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Da Silva Jorge Santos sold 62,810 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $55.00, for a total value of $3,454,550.00. Following the completion of the transaction, the chief executive officer now owns 3,043,619 shares of the company’s stock, valued at approximately $167,399,045. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 166,981 shares of company stock valued at $9,490,674. 15.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MLTX. Quarry LP purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at $51,000. Barclays PLC purchased a new position in shares of MoonLake Immunotherapeutics in the third quarter valued at $189,000. Stratos Wealth Partners LTD. purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at $202,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at $217,000. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of MoonLake Immunotherapeutics in the third quarter valued at $246,000. Hedge funds and other institutional investors 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.