MoonLake Immunotherapeutics (NASDAQ:MLTX) Director Sells $9,186,120.00 in Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) Director Simon Sturge sold 171,000 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the sale, the director now directly owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

MoonLake Immunotherapeutics Price Performance

NASDAQ:MLTX opened at $47.00 on Friday. The business has a 50 day moving average of $48.62 and a 200 day moving average of $45.11. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -62.67 and a beta of 1.26. MoonLake Immunotherapeutics has a 1-year low of $35.11 and a 1-year high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same quarter in the prior year, the firm posted ($0.23) earnings per share. As a group, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MLTX. Oppenheimer initiated coverage on MoonLake Immunotherapeutics in a research note on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $62.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Finally, Wolfe Research lowered shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.45.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB lifted its position in MoonLake Immunotherapeutics by 26.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after acquiring an additional 2,700 shares in the last quarter. Quarry LP lifted its position in shares of MoonLake Immunotherapeutics by 172.7% during the 2nd quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $132,000 after buying an additional 1,900 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of MoonLake Immunotherapeutics by 37.9% in the second quarter. The Manufacturers Life Insurance Company now owns 114,234 shares of the company’s stock worth $5,023,000 after purchasing an additional 31,401 shares during the period. Millennium Management LLC raised its holdings in MoonLake Immunotherapeutics by 596.0% during the second quarter. Millennium Management LLC now owns 216,964 shares of the company’s stock valued at $9,540,000 after acquiring an additional 185,789 shares during the period. Finally, Marshall Wace LLP lifted its holdings in MoonLake Immunotherapeutics by 115.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock worth $48,307,000 after purchasing an additional 587,684 shares in the last quarter. Hedge funds and other institutional investors own 93.85% 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.