MoonLake Immunotherapeutics Forecasted to Earn Q2 2024 Earnings of ($0.23) Per Share (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) - Equities research analysts at Leerink Partnrs decreased their Q2 2024 earnings per share estimates for MoonLake Immunotherapeutics in a research report issued to clients and investors on Tuesday, May 7th. Leerink Partnrs analyst T. Smith now expects that the company will post earnings of ($0.23) per share for the quarter, down from their prior estimate of ($0.16). The consensus estimate for MoonLake Immunotherapeutics' current full-year earnings is ($1.11) per share. Leerink Partnrs also issued estimates for MoonLake Immunotherapeutics' Q3 2024 earnings at ($0.26) EPS, Q4 2024 earnings at ($0.27) EPS, FY2024 earnings at ($0.82) EPS, FY2025 earnings at ($1.39) EPS, FY2026 earnings at ($2.26) EPS, FY2027 earnings at ($3.09) EPS and FY2028 earnings at $2.01 EPS.

Several other equities analysts have also issued reports on the stock. William Blair reissued an "outperform" rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, February 26th. Needham & Company LLC reiterated a "buy" rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a report on Wednesday. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Wednesday. Wedbush reissued an "outperform" rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. Finally, Wolfe Research initiated coverage on shares of MoonLake Immunotherapeutics in a report on Thursday, February 15th. They issued an "outperform" rating and a $77.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $74.46.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX traded down $1.05 during trading on Friday, reaching $40.92. 548,713 shares of the company's stock traded hands, compared to its average volume of 438,043. MoonLake Immunotherapeutics has a 12-month low of $24.31 and a 12-month high of $64.98. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -51.83 and a beta of 1.29. The company's 50 day simple moving average is $45.90 and its two-hundred day simple moving average is $50.71.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03).

Institutional Trading of MoonLake Immunotherapeutics

Hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in MoonLake Immunotherapeutics in the fourth quarter valued at approximately $51,000. Barclays PLC purchased a new stake in MoonLake Immunotherapeutics during the third quarter worth $189,000. Stratos Wealth Partners LTD. acquired a new stake in MoonLake Immunotherapeutics during the fourth quarter valued at $202,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $217,000. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of MoonLake Immunotherapeutics in the third quarter worth about $246,000. Hedge funds and other institutional investors own 93.85% of the company's stock.

Insider Buying and Selling

In other news, CEO Da Silva Jorge Santos sold 62,810 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $55.00, for a total value of $3,454,550.00. Following the transaction, the chief executive officer now directly owns 3,043,619 shares of the company's stock, valued at $167,399,045. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 29,431 shares of the company's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total value of $1,618,705.00. Following the sale, the insider now directly owns 70,071 shares of the company's stock, valued at $3,853,905. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Da Silva Jorge Santos sold 62,810 shares of MoonLake Immunotherapeutics stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total value of $3,454,550.00. Following the transaction, the chief executive officer now owns 3,043,619 shares of the company's stock, valued at approximately $167,399,045. The disclosure for this sale can be found here. Insiders sold 166,981 shares of company stock worth $9,490,674 in the last 90 days. Insiders own 15.27% 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.