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 transaction, the insider directly owned 2,764,746 shares in the company, valued at approximately $55,543,747.14. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 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 stock was 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 shares were sold at an average price of $18.89, for a total transaction of $944,500.00.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX traded down $0.82 during mid-day trading on Tuesday, reaching $19.05. The stock had a trading volume of 327,985 shares, compared to its average volume of 1,489,179. The business has a fifty day moving average of $19.04 and a 200 day moving average of $17.76. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60. The firm 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 12 month low of $5.95 and a 12 month high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.07). Equities analysts predict that MoonLake Immunotherapeutics will post -3.64 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLTX. Geode Capital Management LLC raised its position in MoonLake Immunotherapeutics by 0.9% during the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock valued at $2,809,000 after purchasing an additional 559 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of MoonLake Immunotherapeutics by 3.7% in the 2nd quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock worth $829,000 after purchasing an additional 629 shares during the period. Axiom Investors LLC DE increased its position in shares of MoonLake Immunotherapeutics by 3.2% during the 4th quarter. Axiom Investors LLC DE now owns 25,998 shares of the company’s stock valued at $343,000 after purchasing an additional 818 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in MoonLake Immunotherapeutics by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after buying an additional 1,069 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in MoonLake Immunotherapeutics by 18.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock valued at $52,000 after buying an additional 1,158 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.