MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Down 7.3% – Here’s What Happened

MoonLake Immunotherapeutics (NASDAQ:MLTX) shares traded down 7.3% during mid-day trading on Monday . The stock traded as low as $17.52 and last traded at $17.1480. 815,548 shares changed hands during trading, a decline of 88% from the average session volume of 6,866,944 shares. The stock had previously closed at $18.49.

Analyst Ratings Changes

A number of analysts have weighed in on MLTX shares. HC Wainwright reissued a “buy” rating and set a $32.00 target price (up from $26.00) on shares of MoonLake Immunotherapeutics in a report on Friday, January 9th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $10.00 price target (down previously from $67.00) on shares of MoonLake Immunotherapeutics in a report on Monday, September 29th. Stifel Nicolaus downgraded MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $13.00 price objective for the company. in a research note on Monday, September 29th. Guggenheim dropped their target price on MoonLake Immunotherapeutics from $80.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, September 30th. Finally, UBS Group set a $24.00 target price on MoonLake Immunotherapeutics in a research note on Friday, January 9th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Hold” and an average target price of $25.77.

MoonLake Immunotherapeutics Trading Up 1.8%

The firm has a 50-day moving average of $13.62 and a 200 day moving average of $30.84. The company has a current ratio of 8.50, a quick ratio of 8.50 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.24 and a beta of 1.21.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.21). During the same period in the prior year, the business posted ($0.56) earnings per share. As a group, equities analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Insider Transactions at MoonLake Immunotherapeutics

In other news, insider Kristian Reich sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $15.08, for a total value of $1,960,400.00. Following the completion of the sale, the insider directly owned 72,908 shares of the company’s stock, valued at approximately $1,099,452.64. This represents a 64.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Da Silva Jorge Santos sold 130,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $15.08, for a total transaction of $1,960,400.00. Following the completion of the transaction, the chief executive officer owned 2,948,577 shares of the company’s stock, valued at $44,464,541.16. This trade represents a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 402,908 shares of company stock valued at $5,987,162 in the last quarter. 12.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Decheng Capital LLC acquired a new position in MoonLake Immunotherapeutics during the second quarter worth about $8,572,000. Jennison Associates LLC acquired a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at about $2,941,000. Elevation Point Wealth Partners LLC bought a new position in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at about $74,000. Boxer Capital Management LLC acquired a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter worth approximately $1,792,000. Finally, Rhenman & Partners Asset Management AB grew its stake in shares of MoonLake Immunotherapeutics by 360.0% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 207,000 shares of the company’s stock worth $1,484,000 after purchasing an additional 162,000 shares during the last quarter. 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.