Da Silva Jorge Santos Sells 68,289 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock

Key Points

• MoonLake Immunotherapeutics CEO Da Silva Jorge Santos sold 68,289 shares on July 10 at an average price of $20.02, totaling about $1.37 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and his remaining stake was still valued at roughly $55.6 million.
• The CEO has been actively selling shares recently, including additional sales of 33,936 shares on July 9 and 47,775 shares on July 1. Combined, the recent transactions suggest a notable reduction in his position, though he still retains more than 2.7 million shares.
• MoonLake’s stock was trading around $20.41 after a slight gain, and analysts remain mixed on the name. The company recently missed earnings expectations, while Wall Street’s consensus rating is Hold with an average target price of about $24.21.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) CEO Da Silva Jorge Santos sold 68,289 shares of the company's stock in a transaction on Friday, July 10th. The shares were sold at an average price of $20.02, for a total value of $1,367,145.78. Following the sale, the chief executive officer owned 2,774,893 shares of the company's stock, valued at approximately $55,553,357.86. This trade represents a 2.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 Thursday, July 9th, Da Silva Jorge Santos sold 33,936 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $20.01, for a total value of $679,059.36.
• 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 value of $956,933.25.

MoonLake Immunotherapeutics Stock Performance

Shares of MoonLake Immunotherapeutics stock traded up $0.05 during trading hours on Monday, reaching $20.41. 1,315,029 shares of the stock traded hands, compared to its average volume of 1,539,808. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -5.27 and a beta of 1.04. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average price of $18.60 and a 200 day moving average price of $17.26.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MLTX. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from an "underperform" rating to an "outperform" rating and lifted their price target for the stock from $12.00 to $24.00 in a research note on Monday, March 23rd. Rothschild & Co Redburn upgraded MoonLake Immunotherapeutics from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $12.00 to $40.00 in a research note on Thursday, March 19th. Needham & Company LLC raised their target price on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. BTIG Research reiterated a "buy" rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $24.21.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several large investors have recently added to or reduced their stakes in MLTX. Cormorant Asset Management LP boosted its position in shares of MoonLake Immunotherapeutics by 118.4% in the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company's stock worth $57,405,000 after purchasing an additional 2,361,260 shares during the period. Janus Henderson Group PLC raised its position in shares of MoonLake Immunotherapeutics by 18,782.8% during the 4th quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company's stock valued at $27,657,000 after purchasing an additional 2,084,888 shares during the period. Logos Global Management LP purchased a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $23,065,000. Weiss Asset Management LP lifted its stake in shares of MoonLake Immunotherapeutics by 413.1% during the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company's stock valued at $31,843,000 after buying an additional 1,375,367 shares in the last quarter. Finally, Vivo Capital LLC bought a new position in MoonLake Immunotherapeutics in the 4th quarter worth $13,180,000. Hedge funds and other institutional investors own 93.85% of the company's stock.

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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