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

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $79.00.

MLTX has been the topic of a number of recent research reports. Wedbush reiterated an “outperform” rating and set a $73.00 price target (down from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $62.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Wolfe Research lowered MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 26th. Finally, HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 14th.

MoonLake Immunotherapeutics Stock Down 0.3 %

Shares of MLTX opened at $54.17 on Friday. The business’s 50-day moving average price is $50.11 and its 200-day moving average price is $46.02. MoonLake Immunotherapeutics has a twelve month low of $37.55 and a twelve month high of $64.98. The stock has a market cap of $3.46 billion, a PE ratio of -42.38 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results 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 last year, the company posted ($0.18) EPS. Analysts expect that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was 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 of the company’s stock, valued at $9,238,765.60. This trade represents a 49.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its position in MoonLake Immunotherapeutics by 35.8% during the third quarter. FMR LLC now owns 4,950,224 shares of the company’s stock valued at $249,590,000 after buying an additional 1,306,215 shares during the period. Avoro Capital Advisors LLC lifted its position in MoonLake Immunotherapeutics by 7.4% during the second quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock valued at $121,797,000 after buying an additional 190,000 shares during the period. Westfield Capital Management Co. LP lifted its position in MoonLake Immunotherapeutics by 4.4% during the third quarter. Westfield Capital Management Co. LP now owns 1,167,358 shares of the company’s stock valued at $58,858,000 after buying an additional 49,733 shares during the period. Federated Hermes Inc. lifted its position in MoonLake Immunotherapeutics by 2.6% during the second quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock valued at $49,617,000 after buying an additional 28,672 shares during the period. Finally, Marshall Wace LLP lifted its position in MoonLake Immunotherapeutics by 115.0% during the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after buying an additional 587,684 shares during the period. Hedge funds and other 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.