Insider Selling: 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 that occurred on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total value of $971,500.00. Following the completion of the sale, the insider directly owned 2,824,551 shares of the company’s stock, valued at $54,881,025.93. This represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Price Performance

MLTX stock traded up $0.21 on Wednesday, reaching $19.19. 878,828 shares of the company’s stock were exchanged, compared to its average volume of 1,507,842. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average of $17.86 and a 200-day moving average of $16.54. The firm has a market cap of $1.41 billion, a PE 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) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.07). As a group, equities analysts predict that MoonLake Immunotherapeutics will post -3.71 EPS for the current fiscal year.

Institutional Trading of MoonLake Immunotherapeutics

Several large investors have recently modified their holdings of MLTX. Cormorant Asset Management LP raised its position in shares of MoonLake Immunotherapeutics by 118.4% during the 4th quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after purchasing an additional 2,361,260 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of MoonLake Immunotherapeutics by 64.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock worth $64,304,000 after purchasing an additional 1,355,640 shares during the last quarter. Logos Global Management LP acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter worth approximately $23,065,000. Weiss Asset Management LP raised its position in shares of MoonLake Immunotherapeutics by 413.1% during the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock worth $31,843,000 after purchasing an additional 1,375,367 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of MoonLake Immunotherapeutics by 17.8% in the second quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock worth $53,715,000 after acquiring an additional 171,932 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MLTX has been the subject of a number of research analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Needham & Company LLC boosted their price target on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, June 8th. Oppenheimer lifted their price objective on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Finally, Wolfe Research upgraded MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $12.00 to $24.00 in a research report on Monday, March 23rd. Nine 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.85.

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.