MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Gap Down – Should You Sell?

MoonLake Immunotherapeutics (NASDAQ:MLTX) gapped down before the market opened on Wednesday . The stock had previously closed at $21.22, but opened at $19.39. MoonLake Immunotherapeutics shares last traded at $19.20, with a volume of 2,034,344 shares.

Analyst Upgrades and Downgrades

MLTX has been the subject of several research analyst reports. Zacks Research raised shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Wolfe Research upgraded MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and raised their target price for the company from $12.00 to $24.00 in a research note on Monday, March 23rd. Royal Bank Of Canada boosted their target price on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Finally, Oppenheimer upped their price target on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, MoonLake Immunotherapeutics presently has a consensus rating of “Hold” and an average price target of $23.85.

MoonLake Immunotherapeutics Price Performance

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 business has a 50-day moving average price of $18.08 and a 200 day moving average price of $16.78. The stock has a market cap of $1.49 billion, a PE ratio of -5.21 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted 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). As a group, research analysts forecast that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, Director Bvf Partners L. P/Il sold 3,750,000 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $16.79, for a total value of $62,962,500.00. Following the transaction, the director owned 1,039,238 shares in the company, valued at approximately $17,448,806.02. The trade was a 78.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Da Silva Jorge Santos sold 51,873 shares of the stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $18.23, for a total value of $945,644.79. Following the completion of the sale, the chief executive officer owned 2,924,893 shares of the company’s stock, valued at approximately $53,320,799.39. This trade represents a 1.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 4,000,000 shares of company stock valued at $67,630,663 over the last three months. Insiders own 12.05% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently made changes to their positions in MLTX. Geode Capital Management LLC boosted its holdings in MoonLake Immunotherapeutics by 0.9% in the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after acquiring an additional 559 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of MoonLake Immunotherapeutics by 3.7% during the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock valued at $829,000 after acquiring an additional 629 shares in the last quarter. Axiom Investors LLC DE increased its holdings in shares of MoonLake Immunotherapeutics by 3.2% during the fourth quarter. Axiom Investors LLC DE now owns 25,998 shares of the company’s stock valued at $343,000 after acquiring an additional 818 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of MoonLake Immunotherapeutics by 45.4% in the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after purchasing an additional 1,069 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of MoonLake Immunotherapeutics by 18.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock worth $52,000 after purchasing an additional 1,158 shares during the last quarter. 93.85% of the stock is currently 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.