MoonLake Immunotherapeutics (NASDAQ:MLTX) Insider Sells $971,500.00 in Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $19.43, for a total value of $971,500.00. Following the completion of the transaction, the insider owned 2,824,551 shares of the company’s stock, valued at approximately $54,881,025.93. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kristian Reich also recently made the following trade(s):

• On Monday, June 15th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $18.89, for a total value of $944,500.00.

MoonLake Immunotherapeutics Stock Performance

Shares of MoonLake Immunotherapeutics stock opened at $19.21 on Friday. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -4.96 and a beta of 1.04. 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 company’s 50-day moving average price is $17.96 and its 200-day moving average price is $16.64.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.07). On average, equities analysts expect that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on MLTX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Needham & Company LLC boosted 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. Wolfe Research upgraded MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and upped their target price for the stock from $12.00 to $24.00 in a research note on Monday, March 23rd. Zacks Research raised MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Rothschild & Co Redburn raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $40.00 in a report on Thursday, March 19th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.85.

Institutional Trading of MoonLake Immunotherapeutics

A number of hedge funds have recently made changes to their positions in MLTX. Principal Financial Group Inc. purchased a new stake in MoonLake Immunotherapeutics during the third quarter valued at about $509,000. Rhenman & Partners Asset Management AB boosted its holdings in shares of 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. Caitong International Asset Management Co. Ltd boosted its holdings in shares of MoonLake Immunotherapeutics by 22,387.5% in 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. Boxer Capital Management LLC bought a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter valued at about $1,792,000. Finally, JPMorgan Chase & Co. increased its position in shares of MoonLake Immunotherapeutics by 342.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 174,161 shares of the company’s stock valued at $1,249,000 after purchasing an additional 134,764 shares during the last quarter. 93.85% of the stock is 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.