MoonLake Immunotherapeutics (NASDAQ:MLTX) Insider Sells $1,001,000.00 in Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 50,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the transaction, the insider directly owned 2,714,746 shares in the company, valued at $54,349,214.92. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kristian Reich also recently made the following trade(s):

• On Monday, July 27th, Kristian Reich sold 1,100 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.00, for a total transaction of $22,000.00.
• On Monday, July 20th, Kristian Reich sold 43,700 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.09, for a total value of $877,933.00.
• On Wednesday, June 17th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $19.43, for a total value of $971,500.00.
• On Monday, June 15th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $18.89, for a total transaction of $944,500.00.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $18.99 on Friday. The firm’s 50-day moving average is $19.12 and its 200-day moving average is $17.85. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -4.91 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). Equities research analysts anticipate that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $45.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, July 20th. Leerink Partners raised their price target on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. BTIG Research restated a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Finally, Needham & Company LLC increased their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock 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 hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC bought a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at $58,000. Avidity Partners Management LP acquired a new stake in shares of MoonLake Immunotherapeutics in the 1st quarter valued at about $932,000. Bank of America Corp DE raised its stake in shares of MoonLake Immunotherapeutics by 5,255.8% in the 1st quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock valued at $13,510,000 after purchasing an additional 711,261 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of MoonLake Immunotherapeutics by 64.7% in the first quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock valued at $64,304,000 after purchasing an additional 1,355,640 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 221.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock valued at $53,000 after purchasing an additional 1,974 shares in the last quarter. 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.