MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) had its price target raised by analysts at HC Wainwright from $40.00 to $45.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 163.77% from the company’s current price.
Several other equities research analysts have also recently weighed in on the company. BTIG Research restated a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, March 30th. The Goldman Sachs Group cut MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $8.00 to $10.00 in a research note on Wednesday, January 14th. Wolfe Research upgraded MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $12.00 to $24.00 in a research note on Monday, March 23rd. Zacks Research upgraded MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Rothschild & Co Redburn upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $40.00 in a research note on Thursday, March 19th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.46.
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MoonLake Immunotherapeutics Price Performance
MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported ($0.92) earnings per share for the quarter, hitting the consensus estimate of ($0.92). During the same period in the previous year, the firm posted ($0.72) EPS. Equities research analysts anticipate that MoonLake Immunotherapeutics will post -3.42 earnings per share for the current fiscal year.
Insider Activity at MoonLake Immunotherapeutics
In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 98,127 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $18.41, for a total transaction of $1,806,518.07. Following the transaction, the chief executive officer owned 2,976,766 shares of the company’s stock, valued at $54,802,262.06. The trade was a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bvf Partners L. P/Il sold 3,750,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $16.79, for a total value of $62,962,500.00. Following the completion of the transaction, the director directly owned 1,039,238 shares in the company, valued at approximately $17,448,806.02. The trade was a 78.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 3,900,000 shares of company stock worth $65,714,663. 12.05% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of MLTX. Cormorant Asset Management LP increased its holdings in shares of MoonLake Immunotherapeutics by 118.4% in the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock valued at $57,405,000 after purchasing an additional 2,361,260 shares during the period. Janus Henderson Group PLC increased its holdings in shares of MoonLake Immunotherapeutics by 18,782.8% in the fourth quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock valued at $27,657,000 after purchasing an additional 2,084,888 shares during the period. Logos Global Management LP acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at approximately $23,065,000. Vivo Capital LLC acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at approximately $13,180,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of MoonLake Immunotherapeutics in the third quarter valued at approximately $6,922,000. Institutional investors and hedge funds 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.
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