MoonLake Immunotherapeutics (NASDAQ:MLTX) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) released its quarterly earnings results 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 Down 3.2 %

Shares of NASDAQ:MLTX traded down $1.38 during midday trading on Wednesday, reaching $42.28. 40,498 shares of the company traded hands, compared to its average volume of 439,022. MoonLake Immunotherapeutics has a 12 month low of $24.31 and a 12 month high of $64.98. The firm’s fifty day moving average price is $46.31 and its two-hundred day moving average price is $50.83. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -57.45 and a beta of 1.29.

Wall Street Analyst Weigh In

MLTX has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 target price on the stock. Wolfe Research started coverage on MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They set an “outperform” rating and a $77.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 23rd. Wedbush reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. Finally, William Blair reiterated an “outperform” rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.46.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other news, insider Kristian Reich sold 10,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $62.43, for a total value of $624,300.00. Following the sale, the insider now directly owns 130,071 shares of the company’s stock, valued at $8,120,332.53. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Kristian Reich sold 10,000 shares of MoonLake Immunotherapeutics stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $62.43, for a total transaction of $624,300.00. Following the completion of the sale, the insider now owns 130,071 shares of the company’s stock, valued at $8,120,332.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Da Silva Jorge Santos sold 20,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $57.44, for a total value of $1,148,800.00. Following the completion of the transaction, the chief executive officer now owns 3,107,554 shares in the company, valued at $178,497,901.76. The disclosure for this sale can be found here. Insiders sold 166,981 shares of company stock valued at $9,490,674 in the last quarter. 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.