MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.07, FiscalAI reports.
MoonLake Immunotherapeutics Stock Performance
Shares of NASDAQ MLTX opened at $16.59 on Wednesday. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -4.32 and a beta of 1.06. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. The firm has a 50 day moving average of $19.00 and a 200 day moving average of $17.89.
Wall Street Analyst Weigh In
MLTX has been the topic of several research reports. Leerink Partners lifted their price objective on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Needham & Company LLC increased their target price on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. HC Wainwright restated a “buy” rating and issued a $45.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, July 20th. Weiss Ratings restated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Friday. Finally, BTIG Research reaffirmed a “buy” rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $24.21.
Insiders Place Their Bets
In related news, CEO Da Silva Jorge Santos sold 68,289 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the completion of the transaction, the chief executive officer directly owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. The trade was a 2.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 MoonLake Immunotherapeutics stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00. Following the transaction, the insider owned 2,824,551 shares in the company, valued at approximately $54,881,025.93. This trade represents a 1.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 344,800 shares of company stock worth $6,820,071. 10.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of MLTX. Janus Henderson Group PLC increased 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 during the last quarter. Logos Global Management LP purchased a new position in shares of MoonLake Immunotherapeutics in the 4th quarter worth approximately $23,065,000. Alliancebernstein L.P. increased its position in shares of MoonLake Immunotherapeutics by 17.8% during the 2nd quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock valued at $53,715,000 after purchasing an additional 171,932 shares during the last quarter. Vivo Capital LLC bought a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at approximately $13,180,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in MoonLake Immunotherapeutics during the 3rd quarter valued at $6,922,000. 93.85% of the stock is currently owned by 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.
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