Da Silva Jorge Santos Sells 33,936 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) CEO Da Silva Jorge Santos sold 33,936 shares of MoonLake Immunotherapeutics stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $20.01, for a total transaction of $679,059.36. Following the completion of the transaction, the chief executive officer directly owned 2,843,182 shares in the company, valued at $56,892,071.82. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 Friday, July 10th, Da Silva Jorge Santos sold 68,289 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $20.02, for a total value of $1,367,145.78.
• On Wednesday, July 1st, Da Silva Jorge Santos sold 47,775 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.03, for a total value of $956,933.25.

MoonLake Immunotherapeutics Trading Down 4.4%

Shares of NASDAQ:MLTX opened at $19.52 on Wednesday. The business’s 50-day moving average is $18.73 and its 200 day moving average is $17.34. MoonLake Immunotherapeutics has a 1 year low of $5.95 and a 1 year high of $62.75. The firm has a market capitalization of $1.44 billion, a P/E ratio of -5.04 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results 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, research analysts predict that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MLTX. Leerink Partners raised their price target 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. Wolfe Research raised shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and boosted their price objective for the company from $12.00 to $24.00 in a report on Monday, March 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. HC Wainwright restated a “buy” rating and issued a $45.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, June 8th. Finally, BTIG Research reaffirmed a “buy” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Ten 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, the company currently has a consensus rating of “Hold” and a consensus target price of $24.21.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $26,000. FNY Investment Advisers LLC acquired a new position in MoonLake Immunotherapeutics during the third quarter valued at $28,000. Bank of America Corp DE boosted its holdings in MoonLake Immunotherapeutics by 64.7% in the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after purchasing an additional 1,781 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in MoonLake Immunotherapeutics by 115.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock worth $42,000 after purchasing an additional 3,166 shares during the period. Finally, Russell Investments Group Ltd. grew its position in MoonLake Immunotherapeutics by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after purchasing an additional 1,069 shares during the period. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.