MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Gap Up – Here’s What Happened

MoonLake Immunotherapeutics (NASDAQ:MLTX) shares gapped up prior to trading on Thursday . The stock had previously closed at $11.29, but opened at $16.19. MoonLake Immunotherapeutics shares last traded at $14.52, with a volume of 16,975,598 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Needham & Company LLC dropped their price objective on MoonLake Immunotherapeutics from $66.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, September 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $10.00 target price (down previously from $67.00) on shares of MoonLake Immunotherapeutics in a research note on Monday, September 29th. Oppenheimer reissued an “outperform” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of MoonLake Immunotherapeutics in a research report on Wednesday, October 8th. Finally, Guggenheim decreased their target price on shares of MoonLake Immunotherapeutics from $80.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, September 30th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $31.38.

MoonLake Immunotherapeutics Stock Up 27.2%

The business’s 50 day simple moving average is $12.93 and its 200 day simple moving average is $31.87. The firm has a market capitalization of $922.73 million, a PE ratio of -4.37 and a beta of 1.21. The company has a current ratio of 8.50, a quick ratio of 8.50 and a debt-to-equity ratio of 0.25.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.21). During the same quarter in the prior year, the firm earned ($0.56) EPS. On average, equities research analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Da Silva Jorge Santos sold 70,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $14.49, for a total value of $1,014,300.00. Following the completion of the sale, the chief executive officer directly owned 2,878,577 shares in the company, valued at $41,710,580.73. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kristian Reich sold 72,908 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $14.43, for a total transaction of $1,052,062.44. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 402,908 shares of company stock worth $5,987,162 in the last ninety days. Corporate insiders own 12.02% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. grew its holdings in shares of MoonLake Immunotherapeutics by 17.8% in the second quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock valued at $53,715,000 after purchasing an additional 171,932 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at about $6,922,000. Hood River Capital Management LLC raised its holdings in MoonLake Immunotherapeutics by 1.9% during the second quarter. Hood River Capital Management LLC now owns 675,445 shares of the company’s stock worth $31,881,000 after purchasing an additional 12,462 shares in the last quarter. Vestal Point Capital LP lifted its position in shares of MoonLake Immunotherapeutics by 175.0% during the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock worth $25,960,000 after buying an additional 350,000 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $3,257,000. 93.85% of the stock is owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immunomodulatory therapies for autoimmune and inflammatory diseases. The company leverages a proprietary platform designed to selectively modulate key immune cell populations, aiming to restore immune balance and reduce tissue damage with targeted biologic candidates.

Its lead asset, MLTX101, is a recombinant immune cell modulator in clinical development for myositis, including inclusion body myositis and dermatomyositis.