MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Down 4.4% - Should You Sell?

Key Points

• MoonLake Immunotherapeutics saw its stock price decrease by 4.4%, closing at $9.70 after trading as low as $9.86, with a significant drop in trading volume by 38% from the average.
• Analyst ratings have declined, with Needham & Company reducing their target price from $66.00 to $20.00, and other analysts adjusting their ratings, leading to a consensus rating of "Hold" and a target price of $36.00.
• Recent insider activity includes major shareholder Bihua Chen selling 5,827 shares at $6.96, reducing their ownership by 0.29%.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s share price fell 4.4% during mid-day trading on Wednesday . The stock traded as low as $9.86 and last traded at $9.70. 991,466 shares changed hands during trading, a decline of 38% from the average session volume of 1,594,363 shares. The stock had previously closed at $10.14.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MLTX. Needham & Company LLC decreased their target price on MoonLake Immunotherapeutics from $66.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, September 30th. Citigroup cut MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating in a report on Tuesday, September 30th. Stifel Nicolaus cut MoonLake Immunotherapeutics from a "buy" rating to a "hold" rating and set a $13.00 target price on the stock. in a report on Monday, September 29th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $10.00 price target (down previously from $67.00) on shares of MoonLake Immunotherapeutics in a report on Monday, September 29th. Finally, Wedbush decreased their price target on MoonLake Immunotherapeutics from $80.00 to $18.00 and set an "outperform" rating on the stock in a report on Tuesday, September 30th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, MoonLake Immunotherapeutics presently has a consensus rating of "Hold" and a consensus target price of $36.00.

MoonLake Immunotherapeutics Stock Performance

The company has a quick ratio of 16.65, a current ratio of 16.65 and a debt-to-equity ratio of 0.21. The stock has a market cap of $633.00 million, a P/E ratio of -3.55 and a beta of 1.10. The stock has a fifty day simple moving average of $43.95 and a 200-day simple moving average of $43.61.

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

Insider Activity at MoonLake Immunotherapeutics

In other news, major shareholder Bihua Chen sold 5,827 shares of the firm's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $6.96, for a total transaction of $40,555.92. Following the sale, the insider owned 1,994,173 shares of the company's stock, valued at $13,879,444.08. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its stake in MoonLake Immunotherapeutics by 3.7% in the 2nd quarter. Squarepoint Ops LLC now owns 17,571 shares of the company's stock valued at $829,000 after purchasing an additional 629 shares during the period. Hudson Bay Capital Management LP boosted its stake in MoonLake Immunotherapeutics by 31.3% in the 2nd quarter. Hudson Bay Capital Management LP now owns 105,000 shares of the company's stock valued at $4,956,000 after purchasing an additional 25,000 shares during the period. Vestal Point Capital LP boosted its stake in MoonLake Immunotherapeutics by 175.0% in the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company's stock valued at $25,960,000 after purchasing an additional 350,000 shares during the period. Balyasny Asset Management L.P. boosted its stake in MoonLake Immunotherapeutics by 436.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 423,170 shares of the company's stock valued at $19,974,000 after purchasing an additional 344,335 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in MoonLake Immunotherapeutics by 13.1% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,752 shares of the company's stock valued at $743,000 after purchasing an additional 1,819 shares during the period. 93.85% of the stock is owned by institutional investors and hedge funds.

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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