MoonLake Immunotherapeutics (NASDAQ:MLTX) Insider Kristian Reich Sells 43,700 Shares of Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 43,700 shares of MoonLake Immunotherapeutics stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $20.09, for a total value of $877,933.00. Following the sale, the insider directly owned 2,764,746 shares in the company, valued at $55,543,747.14. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, July 21st, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.02, for a total transaction of $1,001,000.00.
• 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.
• On Monday, June 15th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $18.89, for a total transaction of $944,500.00.

MoonLake Immunotherapeutics Trading Down 4.1%

Shares of MoonLake Immunotherapeutics stock traded down $0.82 during trading on Tuesday, hitting $19.05. The company’s stock had a trading volume of 327,985 shares, compared to its average volume of 1,489,179. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -4.93 and a beta of 1.04. MoonLake Immunotherapeutics has a 52 week low of $5.95 and a 52 week high of $62.75. The stock has a 50-day moving average price of $19.04 and a two-hundred day moving average price of $17.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly 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). Equities research analysts anticipate that MoonLake Immunotherapeutics will post -3.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on MLTX. HC Wainwright reissued a “buy” rating and issued a $45.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, July 20th. BTIG Research reissued a “buy” rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Needham & Company LLC increased their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings restated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 12th. Finally, Leerink Partners increased their target price on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.21.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new position in MoonLake Immunotherapeutics during the second quarter valued at $58,000. Avidity Partners Management LP purchased a new stake in MoonLake Immunotherapeutics in the first quarter worth approximately $932,000. Bank of America Corp DE grew its holdings in shares of MoonLake Immunotherapeutics by 5,255.8% in the first quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock worth $13,510,000 after acquiring an additional 711,261 shares during the period. Janus Henderson Group PLC grew its position in MoonLake Immunotherapeutics by 64.7% during the first quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock valued at $64,304,000 after buying an additional 1,355,640 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in MoonLake Immunotherapeutics by 221.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock worth $53,000 after acquiring an additional 1,974 shares during the period. 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.