MoonLake Immunotherapeutics (NASDAQ:MLTX) Posts Earnings Results, Misses Estimates By $0.03 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) issued its quarterly earnings data on Tuesday. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03), Briefing.com reports.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock traded down $3.82 on Friday, reaching $38.15. 144,573 shares of the company were exchanged, compared to its average volume of 433,371. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -51.83 and a beta of 1.29. The business has a 50-day moving average price of $45.90 and a 200 day moving average price of $50.71. MoonLake Immunotherapeutics has a 1 year low of $24.31 and a 1 year high of $64.98.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MLTX. William Blair restated an “outperform” rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday, February 26th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday. The Goldman Sachs Group started coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.46.

Insider Transactions at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 29,431 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total transaction of $1,618,705.00. Following the completion of the sale, the insider now owns 70,071 shares of the company’s stock, valued at approximately $3,853,905. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 29,431 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total value of $1,618,705.00. Following the transaction, the insider now directly owns 70,071 shares in the company, valued at approximately $3,853,905. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Da Silva Jorge Santos sold 4,740 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $55.89, for a total transaction of $264,918.60. Following the completion of the transaction, the chief executive officer now owns 2,982,814 shares in the company, valued at $166,709,474.46. The disclosure for this sale can be found here. Insiders sold 166,981 shares of company stock valued at $9,490,674 over the last 90 days. Corporate insiders own 15.27% of the company’s stock.

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.