Insider Selling: MoonLake Immunotherapeutics (NASDAQ:MLTX) Insider Sells $22,000.00 in Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $20.00, for a total value of $22,000.00. Following the completion of the transaction, the insider owned 2,711,198 shares of the company’s stock, valued at approximately $54,223,960. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Tuesday, July 21st, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $20.02, for a total value of $1,001,000.00.
• On Monday, July 20th, Kristian Reich sold 43,700 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $20.09, for a total transaction of $877,933.00.
• 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 Price Performance

Shares of MLTX opened at $18.44 on Friday. 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 company’s fifty day simple moving average is $19.12 and its 200 day simple moving average is $17.85. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -4.76 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). On average, research analysts forecast that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new stake in MoonLake Immunotherapeutics during the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its position in shares of MoonLake Immunotherapeutics by 221.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock valued at $53,000 after purchasing an additional 1,974 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of MoonLake Immunotherapeutics in the second quarter valued at approximately $58,000. Russell Investments Group Ltd. grew its position in shares of MoonLake Immunotherapeutics by 45.4% in the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after purchasing an additional 1,069 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new position in shares of MoonLake Immunotherapeutics during the fourth quarter worth approximately $47,000. 93.85% of the stock is owned by institutional investors.

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.