MoonLake Immunotherapeutics (NASDAQ:MLTX) Posts Earnings Results, Misses Estimates By $0.03 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) posted its quarterly earnings results on Tuesday. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03), Briefing.com reports.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX traded down $1.16 during trading on Wednesday, reaching $42.50. The stock had a trading volume of 30,393 shares, compared to its average volume of 438,853. MoonLake Immunotherapeutics has a 52 week low of $24.31 and a 52 week high of $64.98. The firm’s fifty day moving average is $46.31 and its 200 day moving average is $50.83. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of -57.45 and a beta of 1.29.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MLTX. Needham & Company LLC restated a “buy” rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 23rd. Wedbush reaffirmed an “outperform” rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. The Goldman Sachs Group assumed coverage on MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price target on the stock. Finally, Wolfe Research began coverage on MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They issued an “outperform” rating and a $77.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.46.

Insider Buying and Selling

In related news, CEO Da Silva Jorge Santos sold 62,810 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $55.00, for a total transaction of $3,454,550.00. Following the sale, the chief executive officer now owns 3,043,619 shares in the company, valued at approximately $167,399,045. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 10,000 shares of MoonLake Immunotherapeutics stock in a transaction on Friday, February 16th. The shares were sold at an average price of $60.15, for a total value of $601,500.00. Following the completion of the sale, the insider now directly owns 110,071 shares of the company’s stock, valued at $6,620,770.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Da Silva Jorge Santos sold 62,810 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total transaction of $3,454,550.00. Following the transaction, the chief executive officer now owns 3,043,619 shares in the company, valued at approximately $167,399,045. The disclosure for this sale can be found here. Insiders sold 166,981 shares of company stock valued at $9,490,674 over the last quarter. Insiders own 15.27% of the company’s stock.

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.