MoonLake Immunotherapeutics (NASDAQ:MLTX) Issues Earnings Results

MoonLake Immunotherapeutics (NASDAQ:MLTX) announced its earnings results on Tuesday. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03), Briefing.com reports.

MoonLake Immunotherapeutics Stock Performance

MoonLake Immunotherapeutics stock traded down $1.51 during mid-day trading on Wednesday, hitting $42.15. The company’s stock had a trading volume of 42,602 shares, compared to its average volume of 439,067. MoonLake Immunotherapeutics has a one year low of $24.31 and a one year high of $64.98. The stock has a market cap of $2.69 billion, a PE ratio of -57.45 and a beta of 1.29. The company has a 50 day moving average of $46.31 and a 200-day moving average of $50.83.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 4,740 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $55.89, for a total value of $264,918.60. Following the completion of the sale, the chief executive officer now directly owns 2,982,814 shares in the company, valued at approximately $166,709,474.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 4,740 shares of MoonLake Immunotherapeutics stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $55.89, for a total value of $264,918.60. Following the transaction, the chief executive officer now owns 2,982,814 shares in the company, valued at $166,709,474.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kristian Reich sold 29,431 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total value of $1,618,705.00. Following the transaction, the insider now directly owns 70,071 shares in the company, valued at $3,853,905. The disclosure for this sale can be found here. Insiders have sold 166,981 shares of company stock valued at $9,490,674 in the last 90 days. Company insiders own 15.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MLTX shares. Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday. William Blair restated an “outperform” rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Wolfe Research initiated coverage on MoonLake Immunotherapeutics in a research report on Thursday, February 15th. They set an “outperform” rating and a $77.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 23rd. Finally, Wedbush restated an “outperform” rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.46.

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.