MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Down 4.9% - Should You Sell?

Key Points

• MoonLake Immunotherapeutics shares fell 4.9% to $17.54, on trading volume 75% below the average session volume.
• Analyst sentiment is mixed: 10 analysts rate the stock Buy, four Hold and three Sell, resulting in a consensus Hold rating and an average price target of $24.21.
• The company reported a quarterly EPS loss of $0.98, missing estimates by $0.07, while insiders sold roughly 344,800 shares worth $6.82 million over the past three months.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) shares fell 4.9% on Monday . The company traded as low as $17.57 and last traded at $17.54. Approximately 372,512 shares were traded during trading, a decline of 75% from the average session volume of 1,470,565 shares. The stock had previously closed at $18.44.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. 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. Needham & Company LLC increased their price target on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. BTIG Research reissued a "buy" rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Leerink Partners lifted their target price on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $24.21.

MoonLake Immunotherapeutics Price Performance

The firm has a market cap of $1.30 billion, a P/E ratio of -4.56 and a beta of 1.06. The business's fifty day simple moving average is $19.12 and its 200-day simple moving average is $17.85. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.07). As a group, analysts forecast that MoonLake Immunotherapeutics will post -3.64 EPS for the current fiscal year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other news, insider Kristian Reich sold 50,000 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00. Following the completion of the transaction, the insider directly owned 2,824,551 shares in the company, valued at $54,881,025.93. The trade was a 1.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Da Silva Jorge Santos sold 68,289 shares of MoonLake Immunotherapeutics stock in a transaction on Friday, July 10th. The shares were sold at an average price of $20.02, for a total value of $1,367,145.78. Following the sale, the chief executive officer directly owned 2,774,893 shares of the company's stock, valued at $55,553,357.86. This represents a 2.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 344,800 shares of company stock valued at $6,820,071. Insiders own 10.40% of the company's stock.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in MLTX. Geode Capital Management LLC lifted its stake in MoonLake Immunotherapeutics by 0.9% during the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company's stock worth $2,809,000 after purchasing an additional 559 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of MoonLake Immunotherapeutics by 3.7% during 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 last quarter. Axiom Investors LLC DE increased its position in shares of MoonLake Immunotherapeutics by 3.2% during the 4th quarter. Axiom Investors LLC DE now owns 25,998 shares of the company's stock valued at $343,000 after purchasing an additional 818 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of MoonLake Immunotherapeutics by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company's stock valued at $45,000 after buying an additional 1,069 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in MoonLake Immunotherapeutics by 18.9% in the 3rd 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 last quarter. Hedge funds and other institutional investors 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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