MoonLake Immunotherapeutics (NASDAQ:MLTX) Issues Earnings Results, Misses Expectations By $0.12 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) released its quarterly earnings results on Thursday. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12), Briefing.com reports. During the same quarter last year, the business earned ($0.18) EPS.

MoonLake Immunotherapeutics Stock Performance

Shares of MoonLake Immunotherapeutics stock traded up $0.97 during trading hours on Friday, reaching $51.64. The company’s stock had a trading volume of 103,543 shares, compared to its average volume of 376,889. The company’s 50 day simple moving average is $49.25 and its 200 day simple moving average is $45.32. MoonLake Immunotherapeutics has a one year low of $35.53 and a one year high of $64.98. The stock has a market cap of $3.30 billion, a P/E ratio of -55.86 and a beta of 1.28.

Wall Street Analyst Weigh In

MLTX has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $73.00 price target (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Wolfe Research lowered shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MoonLake Immunotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $78.73.

Insider Transactions at MoonLake Immunotherapeutics

In other news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 171,980 shares in the company, valued at approximately $9,238,765.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 12.02% of the company’s stock.

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.