MoonLake Immunotherapeutics (NASDAQ:MLTX) CEO Sells 47,775 Shares of Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) CEO Da Silva Jorge Santos sold 47,775 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $20.03, for a total value of $956,933.25. Following the completion of the transaction, the chief executive officer directly owned 2,877,118 shares in the company, valued at approximately $57,628,673.54. This represents a 1.63% decrease in their ownership of the stock. 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.

Da Silva Jorge Santos also recently made the following trade(s):

• On Monday, April 13th, Da Silva Jorge Santos sold 51,873 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $18.23, for a total value of $945,644.79.
• On Friday, April 10th, Da Silva Jorge Santos sold 98,127 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $18.41, for a total transaction of $1,806,518.07.

MoonLake Immunotherapeutics Price Performance

Shares of MoonLake Immunotherapeutics stock traded down $0.18 during mid-day trading on Thursday, reaching $18.95. 1,391,554 shares of the stock were exchanged, compared to its average volume of 1,547,101. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -4.90 and a beta of 1.04. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. The firm has a 50-day simple moving average of $18.26 and a 200 day simple moving average of $17.00.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.07). On average, sell-side analysts predict that MoonLake Immunotherapeutics will post -3.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Leerink Partners boosted their price target on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $45.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday, June 8th. BTIG Research reaffirmed a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 12th. Finally, Wolfe Research raised shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and lifted their price target for the company from $12.00 to $24.00 in a report on Monday, March 23rd. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.21.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cormorant Asset Management LP boosted its position in MoonLake Immunotherapeutics by 118.4% during the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after purchasing an additional 2,361,260 shares during the period. Janus Henderson Group PLC boosted its stake in MoonLake Immunotherapeutics by 18,782.8% during the fourth quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock valued at $27,657,000 after buying an additional 2,084,888 shares during the period. Logos Global Management LP bought a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth approximately $23,065,000. Weiss Asset Management LP raised its position in shares of MoonLake Immunotherapeutics by 413.1% during the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock valued at $31,843,000 after buying an additional 1,375,367 shares in the last quarter. Finally, Vivo Capital LLC purchased a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at about $13,180,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.