MoonLake Immunotherapeutics (NASDAQ:MLTX) Insider Sells $944,500.00 in Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 50,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $18.89, for a total value of $944,500.00. Following the completion of the sale, the insider directly owned 2,924,551 shares in the company, valued at approximately $55,244,768.39. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 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 value of $971,500.00.

MoonLake Immunotherapeutics Stock Performance

Shares of MoonLake Immunotherapeutics stock opened at $19.21 on Friday. MoonLake Immunotherapeutics has a 1 year low of $5.95 and a 1 year high of $62.75. The firm’s 50-day moving average is $17.96 and its 200 day moving average is $16.64. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -4.96 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data 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). Sell-side analysts anticipate 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. Kestra Advisory Services LLC purchased a new stake in MoonLake Immunotherapeutics during the fourth quarter valued at $26,000. FNY Investment Advisers LLC purchased a new position in MoonLake Immunotherapeutics in the third quarter worth about $28,000. Bank of America Corp DE grew its stake in shares of MoonLake Immunotherapeutics by 64.7% during the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after purchasing an additional 1,781 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of MoonLake Immunotherapeutics by 115.0% during the 3rd 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. increased its position in shares of 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 purchasing an additional 1,069 shares during the last quarter. Institutional investors own 93.85% of the company’s stock.

Wall Street Analysts Forecast Growth

MLTX has been the subject of a number of recent analyst reports. Royal Bank Of Canada boosted their price objective on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Oppenheimer lifted their target price on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Zacks Research upgraded MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Rothschild & Co Redburn raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their price target for the company from $12.00 to $40.00 in a report on Thursday, March 19th. Finally, Wolfe Research raised MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and increased their price objective for the company from $12.00 to $24.00 in a research report on Monday, March 23rd. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average 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.