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

MoonLake Immunotherapeutics (NASDAQ:MLTX) posted its quarterly earnings data on Tuesday. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03), Briefing.com reports.

MoonLake Immunotherapeutics Trading Down 2.4 %

Shares of MLTX stock opened at $42.63 on Thursday. The firm has a fifty day simple moving average of $46.03 and a 200-day simple moving average of $50.77. The company has a market capitalization of $2.72 billion, a PE ratio of -56.09 and a beta of 1.29. MoonLake Immunotherapeutics has a twelve month low of $24.31 and a twelve month high of $64.98.

Analysts Set New Price Targets

MLTX has been the subject of several recent research reports. Wedbush reaffirmed an “outperform” rating and set a $92.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. Needham & Company LLC reissued a “buy” rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday. The Goldman Sachs Group initiated coverage on MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 target price on the stock. Wolfe Research began coverage on MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They issued an “outperform” rating and a $77.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.46.

Insider Activity at MoonLake Immunotherapeutics

In other news, insider Kristian Reich sold 10,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $60.15, for a total transaction of $601,500.00. Following the sale, the insider now directly owns 110,071 shares of the company’s stock, valued at $6,620,770.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Kristian Reich sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 110,071 shares of the company’s stock, valued at approximately $6,620,770.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Da Silva Jorge Santos sold 20,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $57.44, for a total transaction of $1,148,800.00. Following the transaction, the chief executive officer now directly owns 3,107,554 shares in the company, valued at approximately $178,497,901.76. The disclosure for this sale can be found here. In the last three months, insiders sold 166,981 shares of company stock valued at $9,490,674. Corporate insiders own 15.27% of the company’s stock.

About MoonLake Immunotherapeutics

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.