MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $74.46 Consensus Price Target from Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have received a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $74.46.

MLTX has been the topic of a number of recent research reports. William Blair reaffirmed an “outperform” rating and set a $92.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, February 26th. Wolfe Research assumed coverage on shares of MoonLake Immunotherapeutics in a report on Thursday, February 15th. They set an “outperform” rating and a $77.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. The Goldman Sachs Group started coverage on MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Wednesday.

MoonLake Immunotherapeutics Price Performance

MLTX stock opened at $41.97 on Tuesday. MoonLake Immunotherapeutics has a one year low of $24.31 and a one year high of $64.98. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -55.22 and a beta of 1.29. The company has a fifty day moving average price of $45.90 and a two-hundred day moving average price of $50.71.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Research analysts anticipate that MoonLake Immunotherapeutics will post -1.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Da Silva Jorge Santos sold 4,740 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $55.89, for a total transaction of $264,918.60. Following the transaction, the chief executive officer now directly owns 2,982,814 shares of the company’s stock, valued at $166,709,474.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 4,740 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $55.89, for a total value of $264,918.60. Following the completion of the sale, the chief executive officer now owns 2,982,814 shares of the company’s stock, valued at $166,709,474.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kristian Reich sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $60.15, for a total value of $601,500.00. Following the transaction, the insider now directly owns 110,071 shares in the company, valued at $6,620,770.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 166,981 shares of company stock worth $9,490,674. Corporate insiders own 15.27% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC bought a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter worth $3,872,000. Soros Fund Management LLC purchased a new stake in MoonLake Immunotherapeutics in the 3rd quarter valued at about $3,192,000. Swiss National Bank bought a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter worth approximately $2,269,000. CenterBook Partners LP purchased a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter worth approximately $651,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of MoonLake Immunotherapeutics by 48.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,699 shares of the company’s stock valued at $1,129,000 after acquiring an additional 6,112 shares in the last quarter. 93.85% of the stock is owned by institutional investors.

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.