MoonLake Immunotherapeutics (NASDAQ:MLTX) Issues Earnings Results, Misses Expectations By $0.07 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) announced its quarterly earnings data on Monday. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07), FiscalAI reports.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX traded up $2.04 during trading hours on Monday, reaching $19.10. The company’s stock had a trading volume of 1,641,465 shares, compared to its average volume of 1,686,940. The stock has a market cap of $1.37 billion, a PE ratio of -5.45 and a beta of 1.01. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. The company’s 50-day moving average is $17.47 and its two-hundred day moving average is $15.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 9.27 and a current ratio of 9.27.

Insider Transactions at MoonLake Immunotherapeutics

In related news, CEO Da Silva Jorge Santos sold 51,873 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $18.23, for a total value of $945,644.79. Following the sale, the chief executive officer directly owned 2,924,893 shares of the company’s stock, valued at approximately $53,320,799.39. This represents a 1.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bvf Partners L. P/Il sold 3,750,000 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $16.79, for a total transaction of $62,962,500.00. Following the completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 3,900,000 shares of company stock worth $65,714,663. 12.05% of the stock is owned by corporate insiders.

Institutional Trading of MoonLake Immunotherapeutics

A number of hedge funds have recently added to or reduced their stakes in MLTX. Kestra Advisory Services LLC acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter worth about $26,000. Bank of America Corp DE raised its holdings in shares of MoonLake Immunotherapeutics by 64.7% in the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock worth $32,000 after purchasing an additional 1,781 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MoonLake Immunotherapeutics by 115.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock valued at $42,000 after buying an additional 3,166 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of MoonLake Immunotherapeutics by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after buying an additional 1,069 shares during the period. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at about $47,000. 93.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MLTX has been the subject of several research analyst reports. HC Wainwright increased their price objective on MoonLake Immunotherapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Oppenheimer increased their price objective on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Needham & Company LLC increased their price objective on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the stock 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 increased their price objective for the stock from $8.00 to $10.00 in a research report on Wednesday, January 14th. Finally, Wolfe Research upgraded MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and increased their price objective for the stock from $12.00 to $24.00 in a research report on Monday, March 23rd. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.46.

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.