MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $79.00 Consensus PT from Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) has received an average rating of "Moderate Buy" from the ten ratings firms that are presently covering the stock, Marketbeat reports. Two 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 twelve-month target price among brokers that have covered the stock in the last year is $79.00.

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

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX traded up $2.46 on Friday, hitting $54.32. The company's stock had a trading volume of 223,381 shares, compared to its average volume of 243,286. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -42.11 and a beta of 1.28. MoonLake Immunotherapeutics has a 12 month low of $37.55 and a 12 month high of $64.98. The stock's 50-day moving average is $50.11 and its two-hundred day moving average is $45.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its 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 in the previous year, the company posted ($0.18) EPS. Equities analysts expect that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current fiscal year.

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Friday, October 4th. The shares were 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 49.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of MoonLake Immunotherapeutics by 25.3% in the 1st quarter. Vanguard Group Inc. now owns 92,298 shares of the company's stock valued at $4,636,000 after acquiring an additional 18,641 shares in the last quarter. Victory Capital Management Inc. grew its holdings in MoonLake Immunotherapeutics by 16.0% during the second quarter. Victory Capital Management Inc. now owns 174,682 shares of the company's stock valued at $7,681,000 after purchasing an additional 24,037 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of MoonLake Immunotherapeutics in the third quarter valued at approximately $3,805,000. Harbor Capital Advisors Inc. lifted its stake in shares of MoonLake Immunotherapeutics by 100.2% in the third quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company's stock worth $3,906,000 after buying an additional 38,779 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of MoonLake Immunotherapeutics by 37.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,234 shares of the company's stock worth $5,023,000 after buying an additional 31,401 shares during the period. 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.