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 issued to investors on Friday,Benzinga reports. HC Wainwright currently has a $100.00 price objective on the stock.

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

MoonLake Immunotherapeutics Trading Up 4.1 %

MoonLake Immunotherapeutics stock opened at $53.89 on Friday. The company has a market cap of $3.44 billion, a P/E ratio of -41.78 and a beta of 1.28. MoonLake Immunotherapeutics has a 1-year low of $35.53 and a 1-year high of $64.98. The company has a fifty day simple moving average of $49.49 and a 200 day simple moving average of $45.51.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same quarter in the prior year, the company earned ($0.18) EPS. On average, equities research analysts forecast that MoonLake Immunotherapeutics will post -1.52 EPS for the current year.

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of MoonLake Immunotherapeutics stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.02% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of MoonLake Immunotherapeutics in the 1st quarter valued at approximately $726,000. Westfield Capital Management Co. LP raised its position in shares of MoonLake Immunotherapeutics by 48.8% in the 1st 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 in the last quarter. Clearbridge Investments LLC acquired a new position in shares of MoonLake Immunotherapeutics in the 1st quarter valued at approximately $1,434,000. Vanguard Group Inc. raised its position in shares of MoonLake Immunotherapeutics by 25.3% in the 1st 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 in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of MoonLake Immunotherapeutics by 16.0% in the 2nd quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock valued at $7,681,000 after buying an additional 24,037 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.