MoonLake Immunotherapeutics (NASDAQ:MLTX) Announces Earnings Results, Misses Estimates By $0.03 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03), Briefing.com reports.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX traded down $1.03 during mid-day trading on Wednesday, hitting $42.63. 125,713 shares of the company's stock traded hands, compared to its average volume of 440,025. The company has a market capitalization of $2.72 billion, a P/E ratio of -56.09 and a beta of 1.29. The company has a fifty day moving average of $46.03 and a 200 day moving average of $50.77. MoonLake Immunotherapeutics has a twelve month low of $24.31 and a twelve month high of $64.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MLTX shares. Wedbush reaffirmed an "outperform" rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. The Goldman Sachs Group assumed coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They set a "neutral" rating and a $62.00 target price on the stock. Wolfe Research assumed coverage on shares of MoonLake Immunotherapeutics in a report on Thursday, February 15th. They issued an "outperform" rating and a $77.00 price target for the company. HC Wainwright reiterated a "buy" rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Wednesday. Finally, William Blair reissued an "outperform" rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $74.46.

Insiders Place Their Bets

In other news, CEO Da Silva Jorge Santos sold 20,000 shares of the company's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $60.18, for a total transaction of $1,203,600.00. Following the transaction, the chief executive officer now owns 3,147,554 shares in the company, valued at $189,419,799.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Da Silva Jorge Santos sold 20,000 shares of MoonLake Immunotherapeutics stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $60.18, for a total transaction of $1,203,600.00. Following the completion of the sale, the chief executive officer now directly owns 3,147,554 shares in the company, valued at $189,419,799.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kristian Reich sold 10,000 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $60.15, for a total value of $601,500.00. Following the completion of the transaction, the insider now directly owns 110,071 shares in the company, valued at $6,620,770.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 166,981 shares of company stock valued at $9,490,674. 15.27% of the stock is currently owned by corporate insiders.

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.