MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Down 4.9% – Time to Sell?

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price fell 4.9% during trading on Monday . The stock traded as low as $17.57 and last traded at $17.54. Approximately 372,512 shares traded hands during trading, a decline of 75% from the average daily volume of 1,470,565 shares. The stock had previously closed at $18.44.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MLTX. Needham & Company LLC boosted their target price on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. BTIG Research reaffirmed a “buy” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Leerink Partners lifted their price target on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. HC Wainwright restated a “buy” rating and issued a $45.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, July 20th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Ten 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.21.

MoonLake Immunotherapeutics Price Performance

The stock has a market capitalization of $1.32 billion, a PE ratio of -4.63 and a beta of 1.06. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39. The stock’s 50-day moving average is $19.10 and its 200 day moving average is $17.85.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results 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). As a group, equities analysts predict that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current year.

Insider Transactions at MoonLake Immunotherapeutics

In related news, CEO Da Silva Jorge Santos sold 68,289 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were 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 approximately $54,349,214.92. The trade was a 1.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 344,800 shares of company stock valued at $6,820,071 over the last ninety days. Company insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Cormorant Asset Management LP lifted its stake in shares of MoonLake Immunotherapeutics by 118.4% in the 4th quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock valued at $57,405,000 after purchasing an additional 2,361,260 shares during the last quarter. Janus Henderson Group PLC increased its position 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 worth $27,657,000 after buying an additional 2,084,888 shares during the last quarter. Logos Global Management LP acquired a new position in MoonLake Immunotherapeutics during the fourth quarter worth $23,065,000. Weiss Asset Management LP raised its holdings 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 buying an additional 1,375,367 shares in the last quarter. Finally, Vivo Capital LLC bought a new position in MoonLake Immunotherapeutics during the fourth quarter valued at about $13,180,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.