MoonLake Immunotherapeutics (NASDAQ:MLTX) Insider Sells 130,000 Shares

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 130,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $15.08, for a total value of $1,960,400.00. Following the completion of the transaction, the insider directly owned 72,908 shares in the company, valued at approximately $1,099,452.64. This represents a 64.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, December 9th, Kristian Reich sold 72,908 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $14.43, for a total transaction of $1,052,062.44.

MoonLake Immunotherapeutics Stock Performance

MoonLake Immunotherapeutics stock traded up $0.04 during mid-day trading on Wednesday, reaching $14.59. The company had a trading volume of 1,293,485 shares, compared to its average volume of 1,743,358. The company has a quick ratio of 8.50, a current ratio of 8.50 and a debt-to-equity ratio of 0.25. The firm has a market cap of $937.12 million, a price-to-earnings ratio of -4.39 and a beta of 1.21. The company has a 50 day moving average of $11.20 and a 200-day moving average of $36.25. 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 results on Wednesday, November 5th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.21). During the same quarter in the previous year, the business earned ($0.56) earnings per share. On average, sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Trading of MoonLake Immunotherapeutics

Hedge funds have recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC bought a new position in MoonLake Immunotherapeutics in the 3rd quarter worth approximately $6,922,000. Nuveen LLC bought a new position in MoonLake Immunotherapeutics in the first quarter valued at about $26,308,000. Two Sigma Investments LP acquired a new stake in MoonLake Immunotherapeutics in the third quarter worth about $3,257,000. Vestal Point Capital LP lifted its position in MoonLake Immunotherapeutics by 175.0% during the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock valued at $25,960,000 after purchasing an additional 350,000 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in shares of MoonLake Immunotherapeutics by 436.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 423,170 shares of the company’s stock valued at $19,974,000 after purchasing an additional 344,335 shares during the last quarter. 93.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MLTX. Guggenheim decreased their target price on shares of MoonLake Immunotherapeutics from $80.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, September 30th. Jefferies Financial Group downgraded MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a research report on Monday, September 29th. Citigroup cut MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group reissued a “neutral” rating and set a $7.00 price objective on shares of MoonLake Immunotherapeutics in a report on Wednesday, October 1st. Finally, Wedbush lowered their target price on shares of MoonLake Immunotherapeutics from $80.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday, September 30th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.25.

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.