MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) had its price target raised by analysts at Leerink Partners from $24.00 to $29.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ price target indicates a potential upside of 46.16% from the company’s previous close.
A number of other research firms have also commented on MLTX. Needham & Company LLC upped their price objective on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $12.00 to $40.00 in a report on Thursday, March 19th. Weiss Ratings restated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, June 8th. Finally, Wolfe Research upgraded shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $12.00 to $24.00 in a research report on Monday, March 23rd. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.21.
Read Our Latest Stock Report on MLTX
MoonLake Immunotherapeutics Stock Performance
MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). On average, equities research analysts anticipate that MoonLake Immunotherapeutics will post -3.71 EPS for the current year.
Insider Activity at MoonLake Immunotherapeutics
In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total value of $971,500.00. Following the completion of the sale, the insider owned 2,824,551 shares in the company, valued at $54,881,025.93. This represents a 1.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Da Silva Jorge Santos sold 98,127 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 2,976,766 shares in the company, valued at $54,802,262.06. This trade represents a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 250,000 shares of company stock worth $4,668,163. Company insiders own 12.05% of the company’s stock.
Institutional Investors Weigh In On MoonLake Immunotherapeutics
Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of MoonLake Immunotherapeutics by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock valued at $2,809,000 after buying an additional 559 shares in the last quarter. Squarepoint Ops LLC raised its position in MoonLake Immunotherapeutics by 3.7% during the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock valued at $829,000 after acquiring an additional 629 shares in the last quarter. Axiom Investors LLC DE raised its position in MoonLake Immunotherapeutics by 3.2% during the fourth quarter. Axiom Investors LLC DE now owns 25,998 shares of the company’s stock valued at $343,000 after acquiring an additional 818 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in MoonLake Immunotherapeutics by 45.4% in the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after acquiring an additional 1,069 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in MoonLake Immunotherapeutics by 18.9% in the third quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock valued at $52,000 after acquiring an additional 1,158 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.
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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