MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Down 7.7% - Time to Sell?

Key Points

• MoonLake Immunotherapeutics shares fell 7.7% to $13.79, below both its 50-day and 200-day moving averages, despite the company modestly beating quarterly EPS expectations.
• 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 $24.57.
• Insiders sold 344,800 shares worth approximately $6.8 million over the past 90 days under pre-arranged trading plans, while institutional investors own a substantial 93.85% of the stock.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) shares traded down 7.7% during trading on Wednesday . The company traded as low as $13.86 and last traded at $13.79. 1,046,627 shares were traded during trading, a decline of 28% from the average daily volume of 1,450,186 shares. The stock had previously closed at $14.94.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Leerink Partners lifted their price objective on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. HC Wainwright lifted their target price on MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, August 21st. BTIG Research reissued a "buy" rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Finally, Needham & Company LLC raised their price target on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $24.57.

MoonLake Immunotherapeutics Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 12.56 and a quick ratio of 12.56. The company's fifty day moving average price is $17.61 and its 200 day moving average price is $17.86. The company has a market cap of $1.18 billion, a PE ratio of -3.60 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.91) by $0.07. On average, equities research analysts predict that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current year.

Insider Activity at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total value of $1,001,000.00. Following the transaction, the insider owned 2,714,746 shares in the company, valued at approximately $54,349,214.92. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Silva Santos sold 68,289 shares of the 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 transaction, the chief executive officer directly owned 2,774,893 shares of the company's stock, valued at approximately $55,553,357.86. This trade represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 344,800 shares of company stock valued at $6,820,071. 10.40% of the stock is currently owned by company insiders.

Institutional Trading of MoonLake Immunotherapeutics

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of MoonLake Immunotherapeutics by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company's stock worth $2,809,000 after acquiring an additional 559 shares during the period. Squarepoint Ops LLC lifted its holdings in MoonLake Immunotherapeutics by 3.7% during the second 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 lifted its holdings in MoonLake Immunotherapeutics by 3.2% during the fourth 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. Allworth Financial LP boosted its position in MoonLake Immunotherapeutics by 156.2% during the second quarter. Allworth Financial LP now owns 1,714 shares of the company's stock worth $33,000 after purchasing an additional 1,045 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company's stock worth $45,000 after purchasing an additional 1,069 shares during the period. 93.85% of the stock is currently owned by institutional investors.

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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