Da Silva Jorge Santos Sells 33,936 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock

Key Points

• MoonLake CEO Da Silva Jorge Santos sold 33,936 shares on July 9 at an average price of $20.01, worth about $679,059, and the sale was made under a pre-arranged Rule 10b5-1 plan.
• The CEO also made additional sales recently, including 68,289 shares on July 10 and 47,775 shares on July 1, signaling a notable reduction in holdings over a short period.
• MoonLake Immunotherapeutics shares were up slightly to $20.41, while analysts remain mixed overall: many rate it a buy, but the consensus rating is Hold with an average target price of $24.21.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) CEO Da Silva Jorge Santos sold 33,936 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $20.01, for a total transaction of $679,059.36. Following the sale, the chief executive officer owned 2,843,182 shares in the company, valued at approximately $56,892,071.82. The trade was a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Da Silva Jorge Santos also recently made the following trade(s):

• On Friday, July 10th, Da Silva Jorge Santos sold 68,289 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.02, for a total transaction of $1,367,145.78.
• On Wednesday, July 1st, Da Silva Jorge Santos sold 47,775 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.03, for a total transaction of $956,933.25.

MoonLake Immunotherapeutics Stock Up 0.2%

MLTX stock traded up $0.05 during midday trading on Monday, hitting $20.41. The company's stock had a trading volume of 1,315,029 shares, compared to its average volume of 1,539,808. The firm's 50-day moving average is $18.60 and its 200-day moving average is $17.26. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75. The company has a market cap of $1.50 billion, a PE ratio of -5.27 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.07). On average, equities research analysts forecast that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MLTX has been the subject of several research analyst reports. Needham & Company LLC lifted their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. HC Wainwright reaffirmed a "buy" rating and set a $45.00 price target on shares of MoonLake Immunotherapeutics in a report on Monday, June 8th. Leerink Partners lifted their price target on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. Weiss Ratings reissued a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Finally, Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics from a "neutral" rating to a "buy" rating and increased their price objective for the company from $12.00 to $40.00 in a research report on Thursday, March 19th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $24.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its stake in shares of MoonLake Immunotherapeutics by 3,343.2% during the 1st quarter. Millennium Management LLC now owns 344,320 shares of the company's stock valued at $13,453,000 after purchasing an additional 334,320 shares during the period. Geode Capital Management LLC lifted its stake in shares of MoonLake Immunotherapeutics by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company's stock worth $2,809,000 after purchasing an additional 559 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of MoonLake Immunotherapeutics by 4,584.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 39,397 shares of the company's stock worth $1,860,000 after purchasing an additional 38,556 shares during the period. Legal & General Group Plc boosted its holdings in shares of MoonLake Immunotherapeutics by 7.3% in the second quarter. Legal & General Group Plc now owns 20,905 shares of the company's stock worth $987,000 after buying an additional 1,425 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of MoonLake Immunotherapeutics in the second quarter worth approximately $593,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

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.

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