MoonLake Immunotherapeutics (NASDAQ:MLTX) Issues Quarterly Earnings Results

MoonLake Immunotherapeutics (NASDAQ:MLTX) announced its quarterly earnings results on Monday. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.08, FiscalAI reports.

MoonLake Immunotherapeutics Stock Performance

Shares of MoonLake Immunotherapeutics stock opened at $18.26 on Monday. MoonLake Immunotherapeutics has a 1 year low of $5.95 and a 1 year high of $62.75. The company’s fifty day simple moving average is $19.05 and its 200-day simple moving average is $17.88. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -4.72 and a beta of 1.06. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MLTX shares. Leerink Partners upped their price objective on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Needham & Company LLC lifted their target price on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. BTIG Research reissued a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. HC Wainwright restated a “buy” rating and set a $45.00 price target on shares of MoonLake Immunotherapeutics in a report on Monday, July 20th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.21.

Insider Activity

In other news, CEO Da Silva Jorge Santos sold 68,289 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the completion of the transaction, the chief executive officer owned 2,774,893 shares of the company’s stock, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00. Following the completion of the sale, the insider owned 2,824,551 shares of the company’s stock, valued at approximately $54,881,025.93. The trade was a 1.74% 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. In the last 90 days, insiders have sold 344,800 shares of company stock worth $6,820,071. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of MLTX. Virtu Financial LLC acquired a new position in MoonLake Immunotherapeutics in the fourth quarter worth about $166,000. Wells Fargo & Company MN boosted its stake in MoonLake Immunotherapeutics by 92.0% in the 4th quarter. Wells Fargo & Company MN now owns 10,000 shares of the company’s stock valued at $132,000 after buying an additional 4,792 shares in the last quarter. Brooklyn Investment Group acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter valued at $204,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter worth about $177,000. Finally, Quarry LP raised its stake in shares of MoonLake Immunotherapeutics by 400.1% in the third quarter. Quarry LP now owns 9,001 shares of the company’s stock valued at $65,000 after acquiring an additional 7,201 shares during the last quarter. 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.