Royal Bank Of Canada Boosts MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target to $13.00

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its target price upped by equities research analysts at Royal Bank Of Canada from $12.00 to $13.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential downside of 26.39% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. UBS Group set a $24.00 price target on shares of MoonLake Immunotherapeutics in a report on Friday, January 9th. BTIG Research raised their target price on shares of MoonLake Immunotherapeutics from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Needham & Company LLC upped their price objective on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. The Goldman Sachs Group cut MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and raised their target price for the stock from $8.00 to $10.00 in a research report on Wednesday, January 14th. Finally, Zacks Research raised shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, MoonLake Immunotherapeutics currently has an average rating of “Hold” and a consensus price target of $27.85.

MoonLake Immunotherapeutics Stock Up 0.9%

Shares of MoonLake Immunotherapeutics stock traded up $0.15 on Monday, reaching $17.66. The company’s stock had a trading volume of 329,200 shares, compared to its average volume of 2,511,497. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -5.03 and a beta of 1.20. The firm’s fifty day simple moving average is $15.64 and its two-hundred day simple moving average is $22.83. MoonLake Immunotherapeutics has a 52 week low of $5.95 and a 52 week high of $62.75. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.24.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.92) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.92). During the same period in the prior year, the company earned ($0.72) EPS. Equities analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Insider Activity at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 130,000 shares of MoonLake Immunotherapeutics stock in a transaction on Monday, December 8th. The shares were sold at an average price of $15.08, for a total transaction of $1,960,400.00. Following the transaction, the insider owned 72,908 shares in the company, valued at approximately $1,099,452.64. The trade was a 64.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Da Silva Jorge Santos sold 130,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $15.08, for a total value of $1,960,400.00. Following the completion of the sale, the chief executive officer owned 2,948,577 shares of the company’s stock, valued at $44,464,541.16. The trade was a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 402,908 shares of company stock worth $5,987,162 in the last ninety days. Insiders own 12.05% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. bought a new position in MoonLake Immunotherapeutics during the third quarter valued at approximately $509,000. Decheng Capital LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter worth approximately $8,572,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter worth approximately $74,000. Caitong International Asset Management Co. Ltd boosted its position in shares of MoonLake Immunotherapeutics by 22,387.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 84,553 shares of the company’s stock valued at $606,000 after acquiring an additional 84,177 shares during the last quarter. Finally, Boxer Capital Management LLC purchased a new position in shares of MoonLake Immunotherapeutics in the third quarter valued at $1,792,000. Hedge funds and other institutional investors 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.