MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Down 7.6% – What’s Next?

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s stock price dropped 7.6% during mid-day trading on Tuesday . The company traded as low as $51.24 and last traded at $51.26. Approximately 139,124 shares were traded during trading, a decline of 62% from the average daily volume of 364,879 shares. The stock had previously closed at $55.47.

Analyst Ratings Changes

MLTX has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and set a $62.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.00.

MoonLake Immunotherapeutics Trading Up 1.1 %

The business’s 50 day simple moving average is $50.26 and its 200 day simple moving average is $46.70.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period in the prior year, the company posted ($0.18) EPS. On average, equities analysts forecast that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In related news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the transaction, the director now directly owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. This trade represents a 49.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 12.02% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in MoonLake Immunotherapeutics by 25.3% in the first quarter. Vanguard Group Inc. now owns 92,298 shares of the company’s stock worth $4,636,000 after buying an additional 18,641 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of MoonLake Immunotherapeutics by 16.0% during the second quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock worth $7,681,000 after purchasing an additional 24,037 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth $741,000. Rice Hall James & Associates LLC bought a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth $3,805,000. Finally, Harbor Capital Advisors Inc. lifted its position in shares of MoonLake Immunotherapeutics by 100.2% during the third quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company’s stock worth $3,906,000 after purchasing an additional 38,779 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors.

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.