Da Silva Jorge Santos Sells 68,289 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) CEO Da Silva Jorge Santos sold 68,289 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $20.02, for a total value of $1,367,145.78. Following the completion of the sale, the chief executive officer directly owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Da Silva Jorge Santos also recently made the following trade(s):

• On Thursday, July 9th, Da Silva Jorge Santos sold 33,936 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $20.01, for a total value of $679,059.36.
• On Wednesday, July 1st, Da Silva Jorge Santos sold 47,775 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.03, for a total value of $956,933.25.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $19.52 on Wednesday. The stock has a market capitalization of $1.44 billion, a P/E ratio of -5.04 and a beta of 1.04. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The company has a 50 day moving average of $18.73 and a 200-day moving average of $17.34. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). As a group, equities research analysts forecast that MoonLake Immunotherapeutics will post -3.71 EPS for the current fiscal year.

Institutional Trading of MoonLake Immunotherapeutics

A number of large investors have recently added to or reduced their stakes in the company. Cormorant Asset Management LP lifted its holdings in shares of MoonLake Immunotherapeutics by 118.4% during the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after buying an additional 2,361,260 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of MoonLake Immunotherapeutics by 18,782.8% in the fourth quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock valued at $27,657,000 after acquiring an additional 2,084,888 shares during the period. Logos Global Management LP acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at about $23,065,000. Weiss Asset Management LP grew its stake in shares of MoonLake Immunotherapeutics by 413.1% in the first quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock valued at $31,843,000 after acquiring an additional 1,375,367 shares in the last quarter. Finally, Vivo Capital LLC bought a new position in MoonLake Immunotherapeutics during the fourth quarter worth about $13,180,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

Wall Street Analyst Weigh In

MLTX has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $45.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, June 8th. Rothschild & Co Redburn raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $12.00 to $40.00 in a research report on Thursday, March 19th. Needham & Company LLC upped their target price on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Finally, Leerink Partners increased their price target on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, MoonLake Immunotherapeutics presently has an average rating of “Hold” and a consensus target price of $24.21.

About MoonLake Immunotherapeutics

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.