MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $80.45 Average PT from Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eleven brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $80.45.

MLTX has been the topic of a number of research reports. HC Wainwright restated a "buy" rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report 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 report on Thursday, September 12th. Cantor Fitzgerald restated an "overweight" rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Finally, Wolfe Research cut shares of MoonLake Immunotherapeutics from an "outperform" rating to a "peer perform" rating in a research note on Monday, August 26th.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $9,238,765.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several large investors have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC lifted its position in shares of MoonLake Immunotherapeutics by 7.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company's stock worth $121,797,000 after purchasing an additional 190,000 shares during the period. Federated Hermes Inc. lifted its position in shares of MoonLake Immunotherapeutics by 2.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company's stock worth $49,617,000 after purchasing an additional 28,672 shares during the period. Marshall Wace LLP lifted its position in shares of MoonLake Immunotherapeutics by 115.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company's stock worth $48,307,000 after purchasing an additional 587,684 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of MoonLake Immunotherapeutics by 48.8% in 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 period. Finally, Logos Global Management LP purchased a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter worth approximately $32,978,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Stock Up 0.3 %

NASDAQ MLTX traded up $0.14 on Tuesday, reaching $48.19. The company had a trading volume of 239,517 shares, compared to its average volume of 380,787. The stock has a market capitalization of $3.08 billion, a PE ratio of -64.19 and a beta of 1.26. The firm's 50 day moving average price is $49.29 and its 200 day moving average price is $45.08. MoonLake Immunotherapeutics has a 12 month low of $35.11 and a 12 month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.11). During the same period in the previous year, the company posted ($0.23) EPS. On average, research analysts expect that MoonLake Immunotherapeutics will post -1.54 EPS for the current year.

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.