MoonLake Immunotherapeutics’ (MLTX) “Sector Perform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their sector perform rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a report published on Monday morning, MarketBeat.com reports. The firm currently has a $10.00 price objective on the stock, down from their previous price objective of $67.00.

MLTX has been the subject of several other reports. BTIG Research downgraded shares of MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating and set a $85.00 target price for the company. in a report on Monday. Rothschild & Co Redburn started coverage on shares of MoonLake Immunotherapeutics in a research note on Monday, July 28th. They set a “neutral” rating and a $65.00 price objective for the company. The Goldman Sachs Group upped their target price on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Finally, Redburn Atlantic raised MoonLake Immunotherapeutics to a “hold” rating in a research report on Monday, July 28th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, MoonLake Immunotherapeutics currently has a consensus rating of “Hold” and a consensus target price of $37.00.

MoonLake Immunotherapeutics Stock Down 1.5%

MLTX opened at $7.06 on Monday. The business’s fifty day moving average is $51.83 and its two-hundred day moving average is $45.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 16.65 and a current ratio of 16.65. The company has a market cap of $453.46 million, a price-to-earnings ratio of -2.54 and a beta of 1.11. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.14). During the same quarter last year, the firm posted ($0.39) earnings per share. Analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, major shareholder Bihua Chen sold 5,827 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $6.96, for a total value of $40,555.92. Following the completion of the transaction, the insider directly owned 1,994,173 shares in the company, valued at approximately $13,879,444.08. The trade was a 0.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.02% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in MLTX. Deutsche Bank AG lifted its position in MoonLake Immunotherapeutics by 59.8% during the fourth quarter. Deutsche Bank AG now owns 903 shares of the company’s stock worth $49,000 after buying an additional 338 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at about $74,000. US Bancorp DE increased its stake in shares of MoonLake Immunotherapeutics by 114.4% during the 1st quarter. US Bancorp DE now owns 2,208 shares of the company’s stock valued at $86,000 after acquiring an additional 1,178 shares during the last quarter. Quarry LP purchased a new position in shares of MoonLake Immunotherapeutics during the 1st quarter worth about $94,000. Finally, Advisors Asset Management Inc. boosted its position in shares of MoonLake Immunotherapeutics by 81.7% in the first quarter. Advisors Asset Management Inc. now owns 4,009 shares of the company’s stock worth $157,000 after acquiring an additional 1,803 shares during the last quarter. 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.