MoonLake Immunotherapeutics (NASDAQ:MLTX) Announces Quarterly Earnings Results

MoonLake Immunotherapeutics (NASDAQ:MLTX) released its quarterly earnings results on Tuesday. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03), Briefing.com reports.

MoonLake Immunotherapeutics Trading Down 2.4 %

Shares of NASDAQ:MLTX opened at $42.63 on Thursday. The company has a market capitalization of $2.72 billion, a PE ratio of -56.09 and a beta of 1.29. MoonLake Immunotherapeutics has a 12-month low of $24.31 and a 12-month high of $64.98. The business’s fifty day simple moving average is $46.03 and its 200-day simple moving average is $50.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MLTX shares. Wolfe Research began coverage on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 15th. They set an “outperform” rating and a $77.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Wednesday. Wedbush reissued an “outperform” rating and set a $92.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. William Blair reissued an “outperform” rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Moderate Buy” and an average target price of $74.46.

Insider Buying and Selling

In other news, CEO Da Silva Jorge Santos sold 4,740 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $55.89, for a total value of $264,918.60. Following the transaction, the chief executive officer now owns 2,982,814 shares of the company’s stock, valued at approximately $166,709,474.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Kristian Reich sold 29,431 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on 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 completion of the sale, 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 can be accessed through the SEC website. Also, CEO Da Silva Jorge Santos sold 4,740 shares of MoonLake Immunotherapeutics stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $55.89, for a total transaction of $264,918.60. Following the sale, the chief executive officer now owns 2,982,814 shares of the company’s stock, valued at $166,709,474.46. The disclosure for this sale can be found here. Insiders sold 166,981 shares of company stock worth $9,490,674 in the last three months. 15.27% of the stock is owned by insiders.

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.