HC Wainwright Reiterates Buy Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $100.00 price objective on the stock. HC Wainwright's target price would indicate a potential upside of 93.12% from the company's current price.

Several other research analysts have also weighed in on the company. Wedbush reiterated an "outperform" rating and set a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Wolfe Research lowered MoonLake Immunotherapeutics from an "outperform" rating to a "peer perform" rating in a report on Monday, August 26th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $78.80.

MoonLake Immunotherapeutics Stock Up 2.2 %

MLTX stock traded up $1.11 during midday trading on Friday, reaching $51.78. The stock had a trading volume of 195,056 shares, compared to its average volume of 234,016. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of -56.90 and a beta of 1.28. MoonLake Immunotherapeutics has a twelve month low of $35.53 and a twelve month high of $64.98. The business has a fifty day simple moving average of $49.35 and a two-hundred day simple moving average of $45.41.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same period in the prior year, the business posted ($0.18) earnings per share. On average, equities analysts predict that MoonLake Immunotherapeutics will post -1.52 earnings per share 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 transaction of $9,186,120.00. Following the completion of the transaction, the director now owns 171,980 shares in the company, valued at approximately $9,238,765.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.02% of the stock is owned by insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Logos Global Management LP acquired a new stake in MoonLake Immunotherapeutics in the 2nd quarter worth about $32,978,000. Marshall Wace LLP boosted its stake in shares of MoonLake Immunotherapeutics by 115.0% during the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company's stock valued at $48,307,000 after purchasing an additional 587,684 shares in the last quarter. Westfield Capital Management Co. LP raised its position in MoonLake Immunotherapeutics by 48.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company's stock worth $45,753,000 after purchasing an additional 298,823 shares during the last quarter. Avoro Capital Advisors LLC raised its position in shares of MoonLake Immunotherapeutics by 7.4% during the second quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company's stock worth $121,797,000 after acquiring an additional 190,000 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in MoonLake Immunotherapeutics by 596.0% in the second quarter. Millennium Management LLC now owns 216,964 shares of the company's stock valued at $9,540,000 after acquiring an additional 185,789 shares during the last quarter. Institutional investors and hedge funds 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.