MoonLake Immunotherapeutics (NASDAQ:MLTX) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) issued its earnings results on Tuesday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03), Briefing.com reports.

MoonLake Immunotherapeutics Stock Down 3.5 %

Shares of NASDAQ MLTX traded down $1.51 during trading hours on Wednesday, hitting $42.15. The company had a trading volume of 42,602 shares, compared to its average volume of 439,067. The firm’s 50 day moving average is $46.31 and its 200-day moving average is $50.83. MoonLake Immunotherapeutics has a 1-year low of $24.31 and a 1-year high of $64.98. The stock has a market capitalization of $2.69 billion, a P/E ratio of -57.45 and a beta of 1.29.

Insider Transactions at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 10,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $60.15, for a total transaction of $601,500.00. Following the completion of the transaction, the insider now owns 110,071 shares in the company, valued at $6,620,770.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 10,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $60.15, for a total transaction of $601,500.00. Following the completion of the sale, the insider now owns 110,071 shares of the company’s stock, valued at approximately $6,620,770.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Da Silva Jorge Santos sold 4,740 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $55.89, for a total transaction of $264,918.60. Following the completion of the transaction, the chief executive officer now owns 2,982,814 shares in the company, valued at $166,709,474.46. The disclosure for this sale can be found here. Insiders have sold 166,981 shares of company stock worth $9,490,674 in the last ninety days. Insiders own 15.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MLTX shares. Wedbush reaffirmed an “outperform” rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. The Goldman Sachs Group began coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price objective on the stock. William Blair reissued an “outperform” rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Wednesday. Finally, Wolfe Research started coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They set an “outperform” rating and a $77.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $74.46.

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.