MoonLake Immunotherapeutics (NASDAQ:MLTX) Issues Quarterly Earnings Results

MoonLake Immunotherapeutics (NASDAQ:MLTX) posted its quarterly earnings data on Tuesday. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03), Briefing.com reports.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock traded down $1.38 during mid-day trading on Wednesday, reaching $42.28. 40,498 shares of the company were exchanged, compared to its average volume of 439,022. The company has a market capitalization of $2.70 billion, a P/E ratio of -57.45 and a beta of 1.29. The business’s 50 day simple moving average is $46.31 and its 200 day simple moving average is $50.83. MoonLake Immunotherapeutics has a fifty-two week low of $24.31 and a fifty-two week high of $64.98.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other news, insider Kristian Reich sold 10,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $60.15, for a total value of $601,500.00. Following the completion of the sale, the insider now owns 110,071 shares of the company’s stock, valued at approximately $6,620,770.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Da Silva Jorge Santos sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $60.18, for a total transaction of $1,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,147,554 shares of the company’s stock, valued at $189,419,799.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristian Reich sold 10,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $60.15, for a total value of $601,500.00. Following the transaction, the insider now owns 110,071 shares of the company’s stock, valued at $6,620,770.65. The disclosure for this sale can be found here. Insiders have sold 166,981 shares of company stock worth $9,490,674 in the last ninety days. 15.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MLTX. Wolfe Research began coverage on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 15th. They set an “outperform” rating and a $77.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 23rd. William Blair restated an “outperform” rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a report on Monday, February 26th. Finally, The Goldman Sachs Group assumed coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, MoonLake Immunotherapeutics has an average rating of “Moderate Buy” and an average target price of $74.46.

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.