MoonLake Immunotherapeutics (NASDAQ:MLTX) Insider Kristian Reich Sells 43,700 Shares of Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 43,700 shares of the firm’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $20.09, for a total transaction of $877,933.00. Following the transaction, the insider directly owned 2,764,746 shares in the company, valued at approximately $55,543,747.14. The trade was a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 Tuesday, July 21st, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.02, for a total transaction of $1,001,000.00.
• 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 transaction of $971,500.00.
• 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 Trading Down 5.9%

MoonLake Immunotherapeutics stock opened at $18.71 on Wednesday. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60. The stock has a market capitalization of $1.38 billion, a PE ratio of -4.83 and a beta of 1.04. The firm has a 50 day simple moving average of $19.08 and a 200-day simple moving average of $17.81.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.07). As a group, equities research analysts expect that MoonLake Immunotherapeutics will post -3.64 EPS for the current fiscal year.

Institutional Trading of MoonLake Immunotherapeutics

A number of hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its stake in MoonLake Immunotherapeutics by 221.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock worth $53,000 after purchasing an additional 1,974 shares during the period. FNY Investment Advisers LLC purchased a new position in MoonLake Immunotherapeutics during the 2nd quarter worth approximately $58,000. Russell Investments Group Ltd. raised 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 during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at $47,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.