MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $80.45 Consensus Target Price from Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $80.45.

A number of equities analysts recently weighed in on MLTX shares. Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, October 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ:MLTX opened at $46.40 on Tuesday. The company’s 50-day moving average price is $49.08 and its two-hundred day moving average price is $45.20. MoonLake Immunotherapeutics has a one year low of $35.11 and a one year high of $64.98. The stock has a market capitalization of $2.96 billion, a PE ratio of -50.99 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same quarter in the previous year, the business earned ($0.23) earnings per share. On average, analysts anticipate that MoonLake Immunotherapeutics will post -1.54 earnings per share for the current fiscal year.

Insider Transactions at MoonLake Immunotherapeutics

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC increased its stake in shares of MoonLake Immunotherapeutics by 7.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock valued at $121,797,000 after purchasing an additional 190,000 shares during the last quarter. Federated Hermes Inc. grew its position in MoonLake Immunotherapeutics by 2.6% in the second quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock valued at $49,617,000 after acquiring an additional 28,672 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of MoonLake Immunotherapeutics by 115.0% in the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock worth $48,307,000 after acquiring an additional 587,684 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of 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 acquiring an additional 298,823 shares during the last quarter. Finally, Logos Global Management LP bought a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at approximately $32,978,000. 93.85% of the stock is owned by institutional investors.

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.