MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Gap Down – Should You Sell?

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) gapped down before the market opened on Thursday . The stock had previously closed at $17.41, but opened at $16.48. MoonLake Immunotherapeutics shares last traded at $16.4330, with a volume of 417,865 shares traded.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wedbush decreased their target price on shares of MoonLake Immunotherapeutics from $80.00 to $18.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 30th. Citigroup downgraded MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 29th. BTIG Research raised shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Friday, January 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $10.00 target price (down from $67.00) on shares of MoonLake Immunotherapeutics in a research report on Monday, September 29th. Finally, Jefferies Financial Group downgraded MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a report on Monday, September 29th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, MoonLake Immunotherapeutics presently has an average rating of “Hold” and a consensus target price of $25.77.

MoonLake Immunotherapeutics Trading Up 2.5%

The company has a quick ratio of 8.50, a current ratio of 8.50 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.08 billion, a P/E ratio of -5.05 and a beta of 1.21. The firm’s 50 day simple moving average is $13.86 and its two-hundred day simple moving average is $30.52.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.21). During the same period in the prior year, the company earned ($0.56) EPS. As a group, analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other news, CEO Da Silva Jorge Santos sold 130,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $15.08, for a total transaction of $1,960,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,948,577 shares in the company, valued at $44,464,541.16. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kristian Reich sold 130,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $15.08, for a total transaction of $1,960,400.00. Following the completion of the transaction, the insider directly owned 72,908 shares in the company, valued at approximately $1,099,452.64. The trade was a 64.07% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 402,908 shares of company stock worth $5,987,162. Corporate insiders own 12.02% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Elevation Point Wealth Partners LLC purchased a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at $74,000. FNY Investment Advisers LLC purchased a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter worth approximately $28,000. Bank of America Corp DE boosted its stake in MoonLake Immunotherapeutics by 64.7% in the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after acquiring an additional 1,781 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MoonLake Immunotherapeutics by 115.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock worth $42,000 after purchasing an additional 3,166 shares during the period. Finally, Covestor Ltd purchased a new position in MoonLake Immunotherapeutics in the third quarter valued at approximately $46,000. Institutional investors own 93.85% of the company’s stock.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immunomodulatory therapies for autoimmune and inflammatory diseases. The company leverages a proprietary platform designed to selectively modulate key immune cell populations, aiming to restore immune balance and reduce tissue damage with targeted biologic candidates.

Its lead asset, MLTX101, is a recombinant immune cell modulator in clinical development for myositis, including inclusion body myositis and dermatomyositis.