HC Wainwright Reiterates “Buy” Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

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

A number of other equities analysts have also commented on MLTX. Cantor Fitzgerald reiterated an overweight rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Wolfe Research downgraded MoonLake Immunotherapeutics from an outperform rating to a peer perform rating in a research report on Monday, August 26th. Needham & Company LLC reissued a buy rating and set a $62.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Finally, Oppenheimer assumed coverage on MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They set an outperform rating and a $104.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $80.45.

MoonLake Immunotherapeutics Stock Performance

MoonLake Immunotherapeutics stock opened at $48.00 on Tuesday. The business’s 50-day simple moving average is $48.92 and its 200-day simple moving average is $45.01. The firm has a market capitalization of $3.07 billion, a PE ratio of -64.00 and a beta of 1.26. MoonLake Immunotherapeutics has a 52 week low of $35.11 and a 52 week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same period last year, the company posted ($0.23) earnings per share. Research analysts forecast that MoonLake Immunotherapeutics will post -1.54 earnings per share for the current year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the sale, the director now directly owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB boosted its holdings in shares of MoonLake Immunotherapeutics by 26.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock worth $655,000 after acquiring an additional 2,700 shares in the last quarter. Quarry LP raised its position in MoonLake Immunotherapeutics by 172.7% in the 2nd quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $132,000 after purchasing an additional 1,900 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in MoonLake Immunotherapeutics by 37.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,234 shares of the company’s stock worth $5,023,000 after purchasing an additional 31,401 shares during the last quarter. Millennium Management LLC raised its position in MoonLake Immunotherapeutics by 596.0% in the 2nd quarter. Millennium Management LLC now owns 216,964 shares of the company’s stock worth $9,540,000 after purchasing an additional 185,789 shares during the last quarter. Finally, Marshall Wace LLP raised its position in 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 last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

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.