MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $79.00.

Several equities analysts recently issued reports on MLTX shares. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 14th. Wedbush restated an “outperform” rating and issued a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 target price 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 research report on Monday, August 26th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the transaction, the director now owns 171,980 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. 12.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in MoonLake Immunotherapeutics by 25.3% in the 1st quarter. Vanguard Group Inc. now owns 92,298 shares of the company’s stock worth $4,636,000 after acquiring an additional 18,641 shares in the last quarter. Bellevue Group AG purchased a new stake in shares of MoonLake Immunotherapeutics during the first quarter worth about $221,000. California State Teachers Retirement System lifted its stake in MoonLake Immunotherapeutics by 2.7% in the 1st quarter. California State Teachers Retirement System now owns 16,366 shares of the company’s stock valued at $822,000 after buying an additional 429 shares in the last quarter. DNB Asset Management AS boosted its holdings in 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 buying an additional 1,694 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in MoonLake Immunotherapeutics by 371.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 38,689 shares of the company’s stock worth $1,701,000 after buying an additional 30,481 shares in the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Stock Up 2.6 %

MLTX opened at $54.24 on Friday. The company has a market cap of $3.47 billion, a P/E ratio of -42.05 and a beta of 1.28. The firm’s 50-day moving average price is $50.23 and its 200-day moving average price is $46.19. MoonLake Immunotherapeutics has a 52-week low of $37.55 and a 52-week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same quarter last year, the business posted ($0.18) EPS. On average, research analysts anticipate that MoonLake Immunotherapeutics will post -1.74 EPS for the current fiscal 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.