MoonLake Immunotherapeutics (NASDAQ:MLTX) Insider Kristian Reich Sells 1,100 Shares

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $20.00, for a total value of $22,000.00. Following the transaction, the insider owned 2,711,198 shares of the company’s stock, valued at $54,223,960. This represents a 0.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Tuesday, July 21st, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $20.02, for a total transaction of $1,001,000.00.
• On Monday, July 20th, Kristian Reich sold 43,700 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $20.09, for a total value of $877,933.00.
• On Wednesday, June 17th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $19.43, for a total value 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 Performance

Shares of MLTX stock opened at $18.38 on Thursday. The stock’s 50-day moving average is $19.11 and its two-hundred day moving average is $17.84. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. The firm has a market cap of $1.35 billion, a P/E ratio of -4.75 and a beta of 1.04. 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 (NASDAQ:MLTX) last posted 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). Analysts predict that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently modified their holdings of MLTX. Cormorant Asset Management LP lifted its position in shares of MoonLake Immunotherapeutics by 118.4% during the 4th quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after buying an additional 2,361,260 shares during the period. Janus Henderson Group PLC raised its stake in MoonLake Immunotherapeutics by 18,782.8% during the fourth quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock worth $27,657,000 after acquiring an additional 2,084,888 shares in the last quarter. Logos Global Management LP acquired a new position in MoonLake Immunotherapeutics during the fourth quarter worth $23,065,000. Weiss Asset Management LP lifted its holdings in shares of MoonLake Immunotherapeutics by 413.1% during the first quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock valued at $31,843,000 after acquiring an additional 1,375,367 shares during the period. Finally, Vivo Capital LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $13,180,000. 93.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.