MoonLake Immunotherapeutics (NASDAQ:MLTX) Trading Down 5.3% – What’s Next?

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s stock price traded down 5.3% on Tuesday . The company traded as low as $16.55 and last traded at $16.4080. 560,651 shares were traded during mid-day trading, a decline of 62% from the average session volume of 1,463,796 shares. The stock had previously closed at $17.33.

Analysts Set New Price Targets

A number of research firms recently issued reports on MLTX. Needham & Company LLC boosted their target price on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. HC Wainwright increased their price target on MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday. Leerink Partners increased their price target on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research note on Friday, August 7th. Finally, BTIG Research reissued a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, MoonLake Immunotherapeutics currently has a consensus rating of “Hold” and an average target price of $24.57.

MoonLake Immunotherapeutics Stock Up 3.9%

The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -4.49 and a beta of 1.06. The business’s 50 day moving average price is $18.98 and its 200 day moving average price is $17.90. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Monday, August 10th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.07. On average, equities analysts forecast that MoonLake Immunotherapeutics will post -3.64 EPS for the current year.

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 68,289 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $20.02, for a total value of $1,367,145.78. Following the completion of the transaction, the chief executive officer owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total value of $971,500.00. Following the sale, the insider owned 2,824,551 shares in the company, valued at $54,881,025.93. This trade represents a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 344,800 shares of company stock valued at $6,820,071 in the last ninety days. 10.40% of the stock is owned by corporate insiders.

Institutional Trading of MoonLake Immunotherapeutics

Several large investors have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new stake in MoonLake Immunotherapeutics during the 4th quarter worth $26,000. Bank of America Corp DE grew its position in shares of 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 purchasing an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 buying an additional 3,166 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in MoonLake Immunotherapeutics by 45.4% in the 4th 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 position in shares of MoonLake Immunotherapeutics during the 4th quarter worth $47,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

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.