MoonLake Immunotherapeutics (NASDAQ:MLTX) Insider Kristian Reich Sells 50,000 Shares of Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock in a transaction on Monday, June 15th. The stock was sold at an average price of $18.89, for a total transaction of $944,500.00. Following the completion of the transaction, the insider owned 2,924,551 shares in the company, valued at approximately $55,244,768.39. The trade was a 1.68% 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 Wednesday, June 17th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00.

MoonLake Immunotherapeutics Stock Up 1.1%

MLTX opened at $19.19 on Thursday. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75. 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 business’s 50-day moving average price is $17.90 and its 200-day moving average price is $16.58. The company has a market cap of $1.41 billion, a P/E ratio of -4.96 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Monday, May 11th. The company reported ($0.98) earnings per share 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 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on MLTX shares. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and upped their price objective for the stock from $12.00 to $24.00 in a report on Monday, March 23rd. Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $12.00 to $40.00 in a research report on Thursday, March 19th. HC Wainwright reissued a “buy” rating and issued a $45.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday, June 8th. Weiss Ratings restated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Finally, BTIG Research reaffirmed a “buy” rating and set a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Nine equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $23.85.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new position in MoonLake Immunotherapeutics during the third quarter valued at $509,000. Rhenman & Partners Asset Management AB lifted its position in MoonLake Immunotherapeutics by 360.0% during the third quarter. Rhenman & Partners Asset Management AB now owns 207,000 shares of the company’s stock valued at $1,484,000 after buying an additional 162,000 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in MoonLake Immunotherapeutics by 22,387.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 84,553 shares of the company’s stock valued at $606,000 after buying an additional 84,177 shares during the period. Boxer Capital Management LLC purchased a new position in MoonLake Immunotherapeutics during the third quarter valued at $1,792,000. Finally, JPMorgan Chase & Co. lifted its position in MoonLake Immunotherapeutics by 342.1% during the third quarter. JPMorgan Chase & Co. now owns 174,161 shares of the company’s stock valued at $1,249,000 after buying an additional 134,764 shares during the period. Hedge funds and other institutional investors own 93.85% of the company’s stock.

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.