MoonLake Immunotherapeutics (NASDAQ:MLTX) Posts Earnings Results, Misses Estimates By $0.07 EPS

Key Points

• MoonLake Immunotherapeutics reported quarterly EPS of ($0.98), coming in $0.07 below analysts’ consensus estimate of ($0.91).
• The stock rose $2.04 on the day to $19.10, while trading near its 50-day and 200-day moving averages of $17.47 and $15.19, respectively.
• Recent insider selling was significant, including a 3.75 million-share sale by BVF Partners and additional stock sales by the CEO, while analysts remain mixed with a consensus Hold rating and a $23.46 average price target.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.98) EPS for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.07), FiscalAI reports.

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX traded up $2.04 on Monday, reaching $19.10. The stock had a trading volume of 1,641,465 shares, compared to its average volume of 1,686,940. The company has a debt-to-equity ratio of 0.24, a quick ratio of 9.27 and a current ratio of 9.27. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The business's 50-day moving average price is $17.47 and its 200 day moving average price is $15.19. The stock has a market cap of $1.37 billion, a P/E ratio of -5.45 and a beta of 1.01.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, Director Bvf Partners L. P/Il sold 3,750,000 shares of the business's stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total value of $62,962,500.00. Following the completion of the sale, the director owned 1,039,238 shares in the company, valued at approximately $17,448,806.02. The trade was a 78.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Da Silva Jorge Santos sold 51,873 shares of the business's stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $18.23, for a total value of $945,644.79. Following the completion of the sale, the chief executive officer owned 2,924,893 shares of the company's stock, valued at approximately $53,320,799.39. This represents a 1.74% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 3,900,000 shares of company stock valued at $65,714,663. 12.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter valued at approximately $26,000. Russell Investments Group Ltd. raised its stake 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 purchasing an additional 1,069 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of MoonLake Immunotherapeutics during the fourth quarter worth about $47,000. Bank of America Corp DE increased its stake in shares of MoonLake Immunotherapeutics by 64.7% during the third quarter. Bank of America Corp DE now owns 4,532 shares of the company's stock worth $32,000 after acquiring an additional 1,781 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MoonLake Immunotherapeutics by 115.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company's stock worth $42,000 after purchasing an additional 3,166 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company's stock.

Analyst Ratings Changes

MLTX has been the subject of several recent analyst reports. BTIG Research restated a "buy" rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, March 30th. HC Wainwright boosted their target price on MoonLake Immunotherapeutics from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday. Wolfe Research upgraded MoonLake Immunotherapeutics from an "underperform" rating to an "outperform" rating and boosted their target price for the stock from $12.00 to $24.00 in a research note on Monday, March 23rd. Royal Bank Of Canada boosted their target price on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a "sector perform" rating in a research note on Monday, March 2nd. Finally, The Goldman Sachs Group cut MoonLake Immunotherapeutics from a "neutral" rating to a "sell" rating and boosted their target price for the stock from $8.00 to $10.00 in a research note on Wednesday, January 14th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $23.46.

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.

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