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

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 50,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $18.89, for a total value of $944,500.00. Following the completion of the sale, the insider owned 2,924,551 shares of the company’s stock, valued at $55,244,768.39. The trade was a 1.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 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 value of $971,500.00.

MoonLake Immunotherapeutics Stock Performance

MoonLake Immunotherapeutics stock traded up $0.21 during trading hours on Wednesday, hitting $19.19. The stock had a trading volume of 878,828 shares, compared to its average volume of 1,507,842. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.41 billion, a PE ratio of -4.96 and a beta of 1.04. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. The company has a 50-day moving average of $17.86 and a two-hundred day moving average of $16.54.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.07). On average, equities research analysts anticipate that MoonLake Immunotherapeutics will post -3.71 EPS for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently made changes to their positions in MLTX. Cormorant Asset Management LP grew its holdings in MoonLake Immunotherapeutics by 118.4% during the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock valued at $57,405,000 after purchasing an additional 2,361,260 shares during the period. Janus Henderson Group PLC raised its position in shares of MoonLake Immunotherapeutics by 64.7% during the first quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock worth $64,304,000 after purchasing an additional 1,355,640 shares during the period. Logos Global Management LP bought a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at about $23,065,000. Weiss Asset Management LP grew its position in shares of MoonLake Immunotherapeutics by 413.1% in the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock valued at $31,843,000 after purchasing an additional 1,375,367 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in MoonLake Immunotherapeutics by 17.8% during the 2nd quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock worth $53,715,000 after buying an additional 171,932 shares during the period. 93.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MLTX has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $45.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, June 8th. BTIG Research reiterated a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Wolfe Research raised shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and raised their price objective for the stock from $12.00 to $24.00 in a report on Monday, March 23rd. Needham & Company LLC raised their price objective on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Nine 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.85.

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.