MoonLake Immunotherapeutics (NASDAQ:MLTX) Insider Kristian Reich Sells 50,000 Shares

Key Points

• Insider Kristian Reich sold 50,000 MoonLake shares at an average price of $20.02, generating $1.001 million. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 1.81% to 2.71 million shares.
• Reich has made several additional sales recently, including 43,700 shares on July 20 and 100,000 shares in June, totaling more than $3.7 million across the reported transactions.
• MLTX shares traded at $19.04, while analysts maintained a mixed outlook: 10 rated the stock Buy, four Hold, and three Sell, producing a consensus rating of Hold and an average price target of $24.21.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) insider Kristian Reich sold 50,000 shares of the firm's stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the completion of the transaction, the insider directly owned 2,714,746 shares in the company, valued at approximately $54,349,214.92. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kristian Reich also recently made the following trade(s):

• On Monday, July 20th, Kristian Reich sold 43,700 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $20.09, for a total transaction of $877,933.00.
• On Wednesday, June 17th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00.
• On Monday, June 15th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $18.89, for a total value of $944,500.00.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX stock traded down $0.84 during trading hours on Tuesday, reaching $19.04. The company had a trading volume of 318,042 shares, compared to its average volume of 1,489,015. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60. The stock has a fifty day moving average of $19.04 and a 200-day moving average of $17.76. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -4.94 and a beta of 1.04. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.07). On average, equities analysts anticipate that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised 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 valued at $2,809,000 after acquiring an additional 559 shares during the period. Squarepoint Ops LLC lifted its stake in MoonLake Immunotherapeutics by 3.7% during the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company's stock worth $829,000 after purchasing an additional 629 shares in the last quarter. Axiom Investors LLC DE lifted its stake in MoonLake Immunotherapeutics by 3.2% during the fourth quarter. Axiom Investors LLC DE now owns 25,998 shares of the company's stock worth $343,000 after purchasing an additional 818 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company's stock worth $45,000 after buying an additional 1,069 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of MoonLake Immunotherapeutics by 18.9% during the third quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company's stock worth $52,000 after buying an additional 1,158 shares during the period. Institutional investors and hedge funds own 93.85% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MLTX. Weiss Ratings reissued a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Leerink Partners boosted their target price on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. BTIG Research reissued a "buy" rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Needham & Company LLC raised their price target on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $45.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, July 20th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, MoonLake Immunotherapeutics has a consensus rating of "Hold" and a consensus target price of $24.21.

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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