MoonLake Immunotherapeutics’ (MLTX) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $100.00 target price on the stock.

A number of other research analysts have also issued reports on MLTX. Wedbush reiterated an “outperform” rating and issued a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Wolfe Research downgraded MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $79.00.

MoonLake Immunotherapeutics Price Performance

Shares of MoonLake Immunotherapeutics stock opened at $48.83 on Thursday. The business has a 50 day simple moving average of $49.87 and a two-hundred day simple moving average of $45.75. MoonLake Immunotherapeutics has a 12 month low of $37.55 and a 12 month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) 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 earned ($0.18) earnings per share. On average, research analysts predict that MoonLake Immunotherapeutics will post -1.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Simon Sturge sold 171,000 shares of MoonLake Immunotherapeutics stock in a transaction 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 owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. The trade was a 49.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MLTX. SG Americas Securities LLC acquired a new position in shares of MoonLake Immunotherapeutics during the first quarter valued at about $726,000. Westfield Capital Management Co. LP raised its holdings in MoonLake Immunotherapeutics by 48.8% in the first 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. Vanguard Group Inc. increased its position in shares of MoonLake Immunotherapeutics by 25.3% during the first quarter. Vanguard Group Inc. now owns 92,298 shares of the company’s stock worth $4,636,000 after acquiring an additional 18,641 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of MoonLake Immunotherapeutics during the first quarter worth $1,434,000. Finally, Decheng Capital LLC bought a new position in MoonLake Immunotherapeutics in the first quarter valued at $8,368,000. 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.