Insider Selling: MoonLake Immunotherapeutics (NASDAQ:MLTX) CEO Sells $1,367,145.78 in Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) CEO Da Silva Jorge Santos sold 68,289 shares of the company’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $20.02, for a total value of $1,367,145.78. Following the completion of the sale, the chief executive officer owned 2,774,893 shares of the company’s stock, valued at $55,553,357.86. This trade represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Thursday, July 9th, Da Silva Jorge Santos sold 33,936 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $20.01, for a total value of $679,059.36.
• On Wednesday, July 1st, Da Silva Jorge Santos sold 47,775 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $20.03, for a total value of $956,933.25.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $19.96 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60. The stock has a 50-day simple moving average of $18.78 and a two-hundred day simple moving average of $17.38. The firm has a market capitalization of $1.47 billion, a PE ratio of -5.16 and a beta of 1.04. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.07). Analysts forecast that MoonLake Immunotherapeutics will post -3.71 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. BTIG Research reiterated a “buy” rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Leerink Partners raised their price objective on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $12.00 to $40.00 in a research note on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Finally, Wolfe Research raised shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and upped their target price for the stock 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 issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, MoonLake Immunotherapeutics presently has an average rating of “Hold” and an average price target of $24.21.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently added to or reduced their stakes in MLTX. Cormorant Asset Management LP lifted its holdings in shares of MoonLake Immunotherapeutics by 118.4% in the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after buying an additional 2,361,260 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of MoonLake Immunotherapeutics by 64.7% during the first quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock worth $64,304,000 after acquiring an additional 1,355,640 shares during the last quarter. Logos Global Management LP purchased a new position in MoonLake Immunotherapeutics during the fourth quarter valued at $23,065,000. Weiss Asset Management LP grew its stake in MoonLake Immunotherapeutics by 413.1% during the first quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock valued at $31,843,000 after acquiring an additional 1,375,367 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in MoonLake Immunotherapeutics by 17.8% in the 2nd quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock valued at $53,715,000 after acquiring an additional 171,932 shares during the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.