MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Gap Down on Insider Selling

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $49.85, but opened at $47.79. MoonLake Immunotherapeutics shares last traded at $47.01, with a volume of 266,585 shares traded.

Specifically, Director Simon Sturge sold 171,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the sale, the director now owns 171,980 shares of the company’s stock, valued at $9,238,765.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

MLTX has been the subject of a number of analyst reports. Oppenheimer started coverage on MoonLake Immunotherapeutics in a report on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Needham & Company LLC reiterated a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Wolfe Research downgraded MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.45.

MoonLake Immunotherapeutics Stock Performance

The stock has a 50 day moving average of $48.40 and a two-hundred day moving average of $45.08. The stock has a market cap of $3.00 billion, a PE ratio of -62.61 and a beta of 1.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same quarter in the previous year, the company earned ($0.23) EPS. Analysts expect that MoonLake Immunotherapeutics will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of large investors have recently bought and sold shares of the business. Logos Global Management LP acquired a new position in MoonLake Immunotherapeutics during the second quarter valued at approximately $32,978,000. Marshall Wace LLP boosted its holdings in shares of MoonLake Immunotherapeutics by 115.0% during the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock worth $48,307,000 after buying an additional 587,684 shares during the period. Westfield Capital Management Co. LP grew its stake in MoonLake Immunotherapeutics by 48.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock valued at $45,753,000 after buying an additional 298,823 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in MoonLake Immunotherapeutics by 9.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock worth $139,744,000 after acquiring an additional 196,144 shares during the period. Finally, Avoro Capital Advisors LLC lifted its position in MoonLake Immunotherapeutics by 7.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock worth $121,797,000 after acquiring an additional 190,000 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.