Insider Selling: MoonLake Immunotherapeutics (NASDAQ:MLTX) Director Sells $62,962,500.00 in Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) Director Bvf Partners P/Il sold 3,750,000 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total transaction of $62,962,500.00. Following the transaction, the director owned 1,039,238 shares in the company, valued at $17,448,806.02. This represents a 78.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX opened at $17.36 on Friday. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. The company has a market capitalization of $1.25 billion, a P/E ratio of -4.93 and a beta of 1.19. The company has a 50-day simple moving average of $16.97 and a 200 day simple moving average of $16.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 9.27 and a current ratio of 9.27.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.92) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.92). During the same period last year, the company posted ($0.72) EPS. Sell-side analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in shares of MoonLake Immunotherapeutics in the third quarter valued at about $509,000. Rhenman & Partners Asset Management AB raised its stake in 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 in the last quarter. Decheng Capital LLC bought a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at about $8,572,000. Caitong International Asset Management Co. Ltd grew its position in shares of MoonLake Immunotherapeutics by 22,387.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 84,553 shares of the company’s stock worth $606,000 after purchasing an additional 84,177 shares in the last quarter. Finally, Boxer Capital Management LLC acquired a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter worth approximately $1,792,000. Institutional investors own 93.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MLTX shares. HC Wainwright lifted their price objective on shares of MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Royal Bank Of Canada increased their price objective on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. BTIG Research restated a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, March 30th. The Goldman Sachs Group downgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $8.00 to $10.00 in a report on Wednesday, January 14th. Finally, Needham & Company LLC increased their price target on shares of MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, MoonLake Immunotherapeutics has an average rating of “Hold” and a consensus target price of $23.08.

About MoonLake Immunotherapeutics

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.