MoonLake Immunotherapeutics (NASDAQ:MLTX) Announces Earnings Results

MoonLake Immunotherapeutics (NASDAQ:MLTX) announced its earnings results on Wednesday. The company reported ($0.92) earnings per share for the quarter, meeting the consensus estimate of ($0.92), FiscalAI reports. During the same period in the prior year, the company posted ($0.72) EPS.

MoonLake Immunotherapeutics Stock Up 0.1%

Shares of NASDAQ:MLTX opened at $18.22 on Thursday. The firm has a market cap of $1.17 billion, a P/E ratio of -5.49 and a beta of 1.21. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The business has a fifty day simple moving average of $15.47 and a 200 day simple moving average of $23.57. The company has a quick ratio of 8.50, a current ratio of 8.50 and a debt-to-equity ratio of 0.25.

Insider Transactions at MoonLake Immunotherapeutics

In other news, CEO Da Silva Jorge Santos sold 130,000 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $15.08, for a total value of $1,960,400.00. Following the completion of the sale, the chief executive officer owned 2,948,577 shares in the company, valued at $44,464,541.16. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kristian Reich sold 130,000 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $15.08, for a total value of $1,960,400.00. Following the sale, the insider directly owned 72,908 shares of the company’s stock, valued at approximately $1,099,452.64. This represents a 64.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 402,908 shares of company stock valued at $5,987,162 over the last 90 days. 12.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new stake in MoonLake Immunotherapeutics in the 4th quarter worth $26,000. Bank of America Corp DE grew its holdings in MoonLake Immunotherapeutics by 64.7% during the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after buying an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MoonLake Immunotherapeutics by 115.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock worth $42,000 after acquiring an additional 3,166 shares during the last quarter. Russell Investments Group Ltd. increased its position in MoonLake Immunotherapeutics by 45.4% in the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after purchasing an additional 1,069 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in MoonLake Immunotherapeutics during the fourth quarter valued at $47,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Royal Bank Of Canada lifted their price objective on MoonLake Immunotherapeutics from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. Oppenheimer upped their target price on shares of MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday. Zacks Research raised MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Citigroup cut MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group downgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and raised their target price for the company from $8.00 to $10.00 in a research note on Wednesday, January 14th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $27.15.

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.