MoonLake Immunotherapeutics (NASDAQ:MLTX) Releases Earnings Results, Beats Estimates By $0.08 EPS

Key Points

• MoonLake Immunotherapeutics reported quarterly EPS of -$0.84, beating analysts’ consensus estimate of -$0.92 by $0.08.
• MLTX opened at $18.26, with a $1.34 billion market capitalization; the stock has traded between $5.95 and $62.75 over the past year.
• Analyst sentiment is mixed but generally positive, with 10 buy, four hold, and three sell ratings and an average price target of $24.21. Insiders have sold 344,800 shares worth approximately $6.82 million over the past 90 days.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) posted its quarterly earnings results on Monday. The company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.08, FiscalAI reports.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX opened at $18.26 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The business's 50-day moving average price is $19.05 and its two-hundred day moving average price is $17.88. The company has a market capitalization of $1.34 billion, a P/E ratio of -4.72 and a beta of 1.06.

Insider Transactions at MoonLake Immunotherapeutics

In related news, CEO Da Silva Jorge Santos sold 68,289 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $20.02, for a total value of $1,367,145.78. Following the transaction, the chief executive officer owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total value of $1,001,000.00. Following the completion of the transaction, the insider owned 2,714,746 shares in the company, valued at $54,349,214.92. This represents a 1.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 344,800 shares of company stock valued at $6,820,071 over the last ninety days. Company insiders own 10.40% of the company's stock.

Institutional Trading of MoonLake Immunotherapeutics

Several large investors have recently added to or reduced their stakes in MLTX. Kestra Advisory Services LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $26,000. Bank of America Corp DE raised its holdings in MoonLake Immunotherapeutics by 64.7% during the third quarter. Bank of America Corp DE now owns 4,532 shares of the company's stock valued at $32,000 after buying an additional 1,781 shares in the last quarter. 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 valued at $42,000 after buying an additional 3,166 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of MoonLake Immunotherapeutics by 45.4% in 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 last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter worth about $47,000. 93.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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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