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

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

A number of other research analysts also recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Wedbush reiterated an “outperform” rating and set a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Finally, Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $78.80.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $53.89 on Friday. The firm’s fifty day moving average is $49.49 and its 200-day moving average is $45.51. MoonLake Immunotherapeutics has a 52 week low of $35.53 and a 52 week high of $64.98. The firm has a market cap of $3.44 billion, a P/E ratio of -41.78 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same quarter in the prior year, the business posted ($0.18) EPS. As a group, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -1.52 earnings per share for the current year.

Insider Transactions at MoonLake Immunotherapeutics

In other news, Director Simon Sturge sold 171,000 shares of the company’s 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 in the company, valued at $9,238,765.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 12.02% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors have recently made changes to their positions in MLTX. SG Americas Securities LLC bought a new stake in shares of MoonLake Immunotherapeutics in the 1st quarter worth $726,000. Westfield Capital Management Co. LP grew its position in MoonLake Immunotherapeutics by 48.8% during the first quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock valued at $45,753,000 after buying an additional 298,823 shares during the period. Vanguard Group Inc. grew its position in MoonLake Immunotherapeutics by 25.3% during the first quarter. Vanguard Group Inc. now owns 92,298 shares of the company’s stock valued at $4,636,000 after buying an additional 18,641 shares during the period. Clearbridge Investments LLC bought a new position in MoonLake Immunotherapeutics during the first quarter valued at about $1,434,000. Finally, Decheng Capital LLC bought a new position in MoonLake Immunotherapeutics during the first quarter valued at about $8,368,000. 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.