MoonLake Immunotherapeutics (NASDAQ:MLTX) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report report published on Tuesday, Benzinga reports. They currently have a $100.00 price objective on the stock.

A number of other research firms have also commented on MLTX. The Goldman Sachs Group began coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They issued a neutral rating and a $62.00 price target on the stock. William Blair restated an outperform rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, February 26th. Wolfe Research began coverage on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 15th. They issued an outperform rating and a $77.00 price target on the stock. Wedbush restated an outperform rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. Finally, Needham & Company LLC restated a buy rating and issued a $66.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $74.46.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX opened at $42.25 on Tuesday. The company’s 50-day simple moving average is $48.58 and its 200 day simple moving average is $51.75. MoonLake Immunotherapeutics has a twelve month low of $19.80 and a twelve month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.11. On average, equities research analysts forecast that MoonLake Immunotherapeutics will post -1.11 EPS for the current year.

Insider Activity at MoonLake Immunotherapeutics

In related news, CEO Da Silva Jorge Santos sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $60.18, for a total value of $1,203,600.00. Following the transaction, the chief executive officer now directly owns 3,147,554 shares in the company, valued at $189,419,799.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $60.15, for a total value of $601,500.00. Following the completion of the sale, the insider now owns 110,071 shares of the company’s stock, valued at $6,620,770.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Da Silva Jorge Santos sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $60.18, for a total transaction of $1,203,600.00. Following the completion of the sale, the chief executive officer now directly owns 3,147,554 shares of the company’s stock, valued at approximately $189,419,799.72. The disclosure for this sale can be found here. Insiders have sold 166,981 shares of company stock worth $9,490,674 over the last ninety days. Company insiders own 15.27% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several large investors have recently bought and sold shares of the company. Quarry LP bought a new stake in MoonLake Immunotherapeutics in the fourth quarter valued at approximately $51,000. PNC Financial Services Group Inc. increased its stake in MoonLake Immunotherapeutics by 50.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock valued at $371,000 after purchasing an additional 2,067 shares in the last quarter. Barclays PLC bought a new stake in MoonLake Immunotherapeutics in the third quarter valued at approximately $189,000. Stratos Wealth Partners LTD. bought a new stake in MoonLake Immunotherapeutics in the fourth quarter valued at approximately $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter worth $217,000. Institutional investors own 93.85% of the company’s stock.

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.