Kristian Reich Sells 50,000 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 50,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00. Following the completion of the transaction, the insider directly owned 2,824,551 shares of the company’s stock, valued at $54,881,025.93. The trade was a 1.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 15th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $18.89, for a total transaction of $944,500.00.

MoonLake Immunotherapeutics Price Performance

MLTX stock traded up $0.21 during trading on Wednesday, hitting $19.19. The stock had a trading volume of 878,828 shares, compared to its average volume of 1,507,842. The company’s 50 day moving average price is $17.86 and its two-hundred day moving average price is $16.54. 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 market cap of $1.41 billion, a price-to-earnings ratio of -4.96 and a beta of 1.04. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75.

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 analysts’ consensus estimates of ($0.91) by ($0.07). On average, sell-side analysts forecast that MoonLake Immunotherapeutics will post -3.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MLTX. Needham & Company LLC boosted their price target on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Royal Bank Of Canada upped their target price on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. BTIG Research reiterated a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Zacks Research upgraded MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Wolfe Research upgraded MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and upped their target price for the company from $12.00 to $24.00 in a research note on Monday, March 23rd. Nine investment 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. Based on data from MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Hold” and an average price target of $23.85.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avidity Partners Management LP acquired a new stake in MoonLake Immunotherapeutics during the first quarter worth about $932,000. Bank of America Corp DE increased its stake in MoonLake Immunotherapeutics by 5,255.8% during the first quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock worth $13,510,000 after acquiring an additional 711,261 shares during the last quarter. Janus Henderson Group PLC increased its position in MoonLake Immunotherapeutics by 64.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock worth $64,304,000 after purchasing an additional 1,355,640 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in MoonLake Immunotherapeutics by 221.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock worth $53,000 after purchasing an additional 1,974 shares in the last quarter. Finally, Readystate Asset Management LP acquired a new stake in MoonLake Immunotherapeutics during the 1st quarter worth approximately $2,689,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.