MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Down 4.6% – Here’s Why

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price dropped 4.6% during mid-day trading on Thursday . The company traded as low as $15.97 and last traded at $15.9450. Approximately 786,466 shares traded hands during trading, a decline of 83% from the average daily volume of 4,671,729 shares. The stock had previously closed at $16.71.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MLTX. Stifel Nicolaus cut shares of MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $13.00 price objective on the stock. in a research note on Monday, September 29th. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price (up previously from $26.00) on shares of MoonLake Immunotherapeutics in a research note on Friday, January 9th. Oppenheimer restated an “outperform” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 6th. UBS Group set a $24.00 price target on MoonLake Immunotherapeutics in a report on Friday, January 9th. Finally, Guggenheim cut their price objective on MoonLake Immunotherapeutics from $80.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, September 30th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.77.

MoonLake Immunotherapeutics Stock Up 1.5%

The firm’s 50-day moving average is $14.27 and its two-hundred day moving average is $29.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 8.50 and a current ratio of 8.50. The stock has a market cap of $1.02 billion, a P/E ratio of -4.78 and a beta of 1.21.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its 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 prior year, the business earned ($0.56) earnings per share. On average, equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Insider Activity

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 70,000 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $14.49, for a total transaction of $1,014,300.00. Following the transaction, the chief executive officer directly owned 2,878,577 shares in the company, valued at approximately $41,710,580.73. This represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kristian Reich sold 72,908 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $14.43, for a total transaction of $1,052,062.44. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 402,908 shares of company stock valued at $5,987,162 over the last three months. Company insiders own 12.02% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Elevation Point Wealth Partners LLC bought a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter worth approximately $74,000. FNY Investment Advisers LLC acquired a new position in MoonLake Immunotherapeutics during the third quarter worth $28,000. Bank of America Corp DE raised its position in MoonLake Immunotherapeutics by 64.7% during the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock worth $32,000 after acquiring an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MoonLake Immunotherapeutics by 115.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock worth $42,000 after acquiring an additional 3,166 shares in the last quarter. Finally, Covestor Ltd acquired a new stake in MoonLake Immunotherapeutics in the third quarter valued at $46,000. Institutional investors own 93.85% of the company’s stock.

About MoonLake Immunotherapeutics

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.