MoonLake Immunotherapeutics (NASDAQ:MLTX) CEO Sells $679,059.36 in Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) CEO Da Silva Jorge Santos sold 33,936 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $20.01, for a total transaction of $679,059.36. Following the completion of the sale, the chief executive officer owned 2,843,182 shares of the company’s stock, valued at $56,892,071.82. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Da Silva Jorge Santos also recently made the following trade(s):

• On Friday, July 10th, Da Silva Jorge Santos sold 68,289 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.02, for a total transaction of $1,367,145.78.
• On Wednesday, July 1st, Da Silva Jorge Santos sold 47,775 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.03, for a total transaction of $956,933.25.

MoonLake Immunotherapeutics Stock Up 2.3%

Shares of NASDAQ MLTX opened at $19.96 on Thursday. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The stock has a market cap of $1.47 billion, a PE ratio of -5.16 and a beta of 1.04. 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 has a 50-day moving average of $18.78 and a 200 day moving average of $17.38.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). As a group, sell-side analysts predict that MoonLake Immunotherapeutics will post -3.71 EPS for the current fiscal year.

Institutional Trading of MoonLake Immunotherapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new position in MoonLake Immunotherapeutics in the fourth quarter valued at approximately $26,000. FNY Investment Advisers LLC acquired a new stake in MoonLake Immunotherapeutics during the third quarter worth $28,000. Bank of America Corp DE increased its stake in MoonLake Immunotherapeutics by 64.7% during the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock worth $32,000 after acquiring an additional 1,781 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MoonLake Immunotherapeutics by 115.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock valued at $42,000 after purchasing an additional 3,166 shares during the period. Finally, Russell Investments Group Ltd. raised its position in 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 period. Institutional investors and hedge funds own 93.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Needham & Company LLC lifted their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. HC Wainwright restated a “buy” rating and issued a $45.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday, June 8th. Rothschild & Co Redburn raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $12.00 to $40.00 in a research note on Thursday, March 19th. Leerink Partners lifted 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. Finally, 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. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $24.21.

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.