MoonLake Immunotherapeutics (NASDAQ:MLTX) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of MoonLake Immunotherapeutics (NASDAQ:MLTX – Free Report) from a sell rating to a strong sell rating in a research report report published on Sunday morning,Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. HC Wainwright raised their price target on shares of MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. BTIG Research reissued a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Leerink Partners boosted their price objective on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Wednesday, September 16th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.50.

Get Our Latest Stock Analysis on MLTX

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $11.45 on Friday. The firm has a market capitalization of $974.51 million, a price-to-earnings ratio of -2.98 and a beta of 1.04. The company has a current ratio of 12.56, a quick ratio of 12.56 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average price is $15.52 and its 200-day moving average price is $17.26. MoonLake Immunotherapeutics has a 12 month low of $6.08 and a 12 month high of $23.29.

MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.07. Equities research analysts forecast that MoonLake Immunotherapeutics will post -3.34 EPS for the current year.

Insider Transactions at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 50,000 shares of the company’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the sale, the insider owned 2,714,746 shares in the company, valued at $54,349,214.92. This represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Silva Santos sold 68,289 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $20.02, for a total value of $1,367,145.78. Following the sale, the chief executive officer directly owned 2,774,893 shares of the company’s stock, valued at $55,553,357.86. This represents a 2.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 197,025 shares of company stock worth $3,947,138 over the last three months. 10.40% of the stock is owned by company insiders.

Institutional Trading of MoonLake Immunotherapeutics

Several large investors have recently modified their holdings of MLTX. Engineers Gate Manager LP bought a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at $2,173,000. Integrated Wealth Concepts LLC bought a new position in MoonLake Immunotherapeutics during the second quarter worth $39,000. Allworth Financial LP grew its holdings in MoonLake Immunotherapeutics by 156.2% in the second quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,045 shares during the period. Arizona State Retirement System acquired a new stake in MoonLake Immunotherapeutics in the second quarter worth $233,000. Finally, FNY Investment Advisers LLC acquired a new stake in MoonLake Immunotherapeutics in the second quarter worth $58,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Company Profile

(Get Free Report)

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for inflammatory and immunologic diseases. The company’s approach is based on Nanobody technology, which is designed to create targeted therapies with potential advantages in tissue penetration and biological activity.

MoonLake’s lead product candidate is sonelokimab, a trivalent Nanobody designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.

Further Reading

Analyst Recommendations for MoonLake Immunotherapeutics (NASDAQ:MLTX)

Receive News & Ratings for MoonLake Immunotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MoonLake Immunotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.