MoonLake Immunotherapeutics (NASDAQ:MLTX) Releases Quarterly Earnings Results, Misses Estimates By $0.21 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) issued its quarterly earnings results on Wednesday. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.21), Briefing.com reports. During the same quarter in the prior year, the business posted ($0.56) earnings per share.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ MLTX traded down $0.16 during midday trading on Thursday, reaching $10.43. The company’s stock had a trading volume of 1,128,677 shares, compared to its average volume of 1,707,255. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. The company has a market cap of $670.05 million, a P/E ratio of -3.74 and a beta of 1.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 16.65 and a current ratio of 16.65. The business’s 50 day moving average price is $29.76 and its two-hundred day moving average price is $40.70.

Analyst Ratings Changes

Several research firms have weighed in on MLTX. Citigroup lowered MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a report on Wednesday, October 29th. Redburn Atlantic upgraded MoonLake Immunotherapeutics to a “hold” rating in a research note on Monday, July 28th. Oppenheimer reiterated an “outperform” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday. The Goldman Sachs Group reissued a “neutral” rating and set a $7.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday, October 1st. Finally, Rothschild & Co Redburn began coverage on MoonLake Immunotherapeutics in a research report on Monday, July 28th. They set a “neutral” rating and a $65.00 target price on the stock. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.58.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, major shareholder Bihua Chen sold 5,827 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $6.96, for a total transaction of $40,555.92. Following the sale, the insider owned 1,994,173 shares of the company’s stock, valued at approximately $13,879,444.08. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.02% of the stock is currently owned by corporate insiders.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of MLTX. Alliancebernstein L.P. raised 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 buying an additional 171,932 shares in the last quarter. Vestal Point Capital LP raised its position in MoonLake Immunotherapeutics by 175.0% in the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock worth $25,960,000 after purchasing an additional 350,000 shares during the period. Balyasny Asset Management L.P. raised its position in MoonLake Immunotherapeutics by 436.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 423,170 shares of the company’s stock worth $19,974,000 after purchasing an additional 344,335 shares during the period. Millennium Management LLC raised its position in MoonLake Immunotherapeutics by 3,343.2% in the 1st quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock worth $13,453,000 after purchasing an additional 334,320 shares during the period. Finally, Hudson Bay Capital Management LP raised its position in MoonLake Immunotherapeutics by 31.3% in the 2nd quarter. Hudson Bay Capital Management LP now owns 105,000 shares of the company’s stock worth $4,956,000 after purchasing an additional 25,000 shares during the period. 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.