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

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $20.02, for a total value of $1,001,000.00. Following the transaction, the insider owned 2,714,746 shares of the company’s stock, valued at $54,349,214.92. This trade represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, July 20th, Kristian Reich sold 43,700 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.09, for a total transaction of $877,933.00.
• On Wednesday, June 17th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $19.43, for a total transaction of $971,500.00.
• On Monday, June 15th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $18.89, for a total transaction of $944,500.00.

MoonLake Immunotherapeutics Stock Down 4.2%

Shares of NASDAQ MLTX traded down $0.84 during midday trading on Tuesday, hitting $19.04. The company’s stock had a trading volume of 318,042 shares, compared to its average volume of 1,489,015. The business’s fifty day simple moving average is $19.04 and its two-hundred day simple moving average is $17.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60. MoonLake Immunotherapeutics has a 1 year low of $5.95 and a 1 year high of $62.75. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -4.94 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.07). On average, equities analysts predict that MoonLake Immunotherapeutics will post -3.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MLTX. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday, July 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 12th. BTIG Research restated a “buy” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Needham & Company LLC increased their price target on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Leerink Partners lifted their price objective on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.21.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter worth $26,000. Bank of America Corp DE increased its holdings in MoonLake Immunotherapeutics by 64.7% in the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after buying an additional 1,781 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MoonLake Immunotherapeutics by 115.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock valued at $42,000 after buying an additional 3,166 shares in the last quarter. Russell Investments Group Ltd. raised its stake in MoonLake Immunotherapeutics by 45.4% in the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after buying an additional 1,069 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in MoonLake Immunotherapeutics during the 4th quarter worth about $47,000. 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.