Kristian Reich Sells 50,000 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total value of $971,500.00. Following the completion of the sale, the insider owned 2,824,551 shares in the company, valued at $54,881,025.93. The trade was a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 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 Stock Up 0.1%

MoonLake Immunotherapeutics stock opened at $19.21 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The company has a 50-day simple moving average of $17.94 and a 200-day simple moving average of $16.62. The firm has a market capitalization of $1.41 billion, a P/E ratio of -4.96 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.07). As a group, equities analysts expect that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new stake in MoonLake Immunotherapeutics during the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its stake in MoonLake Immunotherapeutics by 221.1% during the 1st 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 in the last quarter. Russell Investments Group Ltd. boosted its stake 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 purchasing an additional 1,069 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $47,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter valued at $28,000. 93.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MLTX. Rothschild & Co Redburn raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $12.00 to $40.00 in a report on Thursday, March 19th. BTIG Research restated a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Oppenheimer lifted their target price on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Needham & Company LLC boosted their price target on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Zacks Research raised MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Nine 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.85.

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.