MoonLake Immunotherapeutics (NASDAQ:MLTX) Sees Strong Trading Volume - Time to Buy?

Key Points

• MoonLake Immunotherapeutics experienced a notable increase in trading volume, with 4.66 million shares exchanged, marking a 204% rise from the previous day.
• Several analysts downgraded the stock's rating recently, with Citigroup transitioning from "buy" to "neutral" and Guggenheim lowering its target price from $80 to $20.
• Insider trading activities were significant, as major shareholder Bihua Chen sold approximately 6.49 million shares, reducing their stake by 76.45%.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) shares saw strong trading volume on Friday . 4,660,767 shares changed hands during trading, an increase of 204% from the previous session's volume of 1,533,263 shares.The stock last traded at $10.44 and had previously closed at $9.38.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup cut MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating in a research report on Tuesday, September 30th. Wolfe Research cut MoonLake Immunotherapeutics from an "outperform" rating to an "underperform" rating in a research report on Tuesday, September 30th. Guggenheim cut their target price on MoonLake Immunotherapeutics from $80.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, September 30th. HC Wainwright cut MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating in a research report on Thursday, October 2nd. Finally, Jefferies Financial Group cut MoonLake Immunotherapeutics from a "buy" rating to a "hold" rating and set a $8.00 target price on the stock. in a research report on Monday, September 29th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $36.00.

MoonLake Immunotherapeutics Price Performance

The company has a current ratio of 16.65, a quick ratio of 16.65 and a debt-to-equity ratio of 0.21. The firm has a market cap of $656.43 million, a PE ratio of -3.69 and a beta of 1.10. The company has a 50 day moving average price of $46.52 and a 200 day moving average price of $44.18.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same period in the previous year, the business posted ($0.39) earnings per share. On average, sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, major shareholder Bihua Chen sold 6,494,151 shares of the firm's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $7.21, for a total value of $46,822,828.71. Following the sale, the insider directly owned 2,000,000 shares of the company's stock, valued at approximately $14,420,000. This trade represents a 76.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.02% of the stock is currently owned by corporate insiders.

Institutional Trading of MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Zimmer Partners LP purchased a new position in MoonLake Immunotherapeutics in the first quarter valued at approximately $957,000. Caxton Associates LLP purchased a new position in shares of MoonLake Immunotherapeutics in the 1st quarter valued at $347,000. Octagon Capital Advisors LP purchased a new position in shares of MoonLake Immunotherapeutics in the 1st quarter valued at $11,565,000. Granahan Investment Management LLC raised its stake in shares of MoonLake Immunotherapeutics by 4.2% in the 1st quarter. Granahan Investment Management LLC now owns 142,220 shares of the company's stock valued at $5,557,000 after acquiring an additional 5,782 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in MoonLake Immunotherapeutics during the 1st quarter worth $970,000. Institutional investors and hedge funds own 93.85% of the company's stock.

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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