Analysts Set MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target at $79.00

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $79.00.

MLTX has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Wolfe Research lowered MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note 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 report on Tuesday, November 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, November 14th.

MoonLake Immunotherapeutics Trading Down 0.3 %

NASDAQ:MLTX opened at $54.17 on Friday. MoonLake Immunotherapeutics has a 1 year low of $37.55 and a 1 year high of $64.98. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -42.38 and a beta of 1.28. The stock has a 50-day moving average price of $50.11 and a two-hundred day moving average price of $46.02.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) earnings per share 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. Sell-side analysts forecast that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the 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 completion of the sale, the director now owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. This represents a 49.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 12.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake 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 worth $4,636,000 after acquiring an additional 18,641 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in MoonLake Immunotherapeutics by 16.0% during the second quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock valued at $7,681,000 after purchasing an additional 24,037 shares during the last quarter. Rice Hall James & Associates LLC purchased a new stake in MoonLake Immunotherapeutics during the third quarter valued at about $3,805,000. Harbor Capital Advisors Inc. lifted its holdings in MoonLake Immunotherapeutics by 100.2% during the third quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company’s stock valued at $3,906,000 after purchasing an additional 38,779 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in MoonLake Immunotherapeutics by 37.9% during the second quarter. The Manufacturers Life Insurance Company now owns 114,234 shares of the company’s stock valued at $5,023,000 after purchasing an additional 31,401 shares during the last quarter. 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.