MoonLake Immunotherapeutics (NASDAQ:MLTX) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) released its quarterly earnings results on Monday. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07), FiscalAI reports.

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX traded up $2.42 during trading hours on Monday, hitting $19.48. 1,724,445 shares of the stock were exchanged, compared to its average volume of 1,688,537. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -5.53 and a beta of 1.01. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The stock has a 50-day moving average of $17.47 and a 200 day moving average of $15.19.

Insider Buying and Selling

In related news, Director Bvf Partners L. P/Il sold 3,750,000 shares of the company’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total transaction of $62,962,500.00. Following the transaction, the director owned 1,039,238 shares of the company’s stock, valued at $17,448,806.02. This represents a 78.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Da Silva Jorge Santos sold 98,127 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $18.41, for a total transaction of $1,806,518.07. Following the completion of the sale, the chief executive officer owned 2,976,766 shares in the company, valued at $54,802,262.06. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,900,000 shares of company stock valued at $65,714,663. Company insiders own 12.05% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in MoonLake Immunotherapeutics by 18,782.8% during the 4th quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock valued at $27,657,000 after purchasing an additional 2,084,888 shares in the last quarter. Logos Global Management LP acquired a new position in MoonLake Immunotherapeutics during the 4th quarter valued at $23,065,000. Vivo Capital LLC bought a new position in shares of MoonLake Immunotherapeutics during the 4th quarter worth about $13,180,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of MoonLake Immunotherapeutics during the third quarter valued at about $6,922,000. Finally, Millennium Management LLC lifted its stake in shares of MoonLake Immunotherapeutics by 709.4% in the fourth quarter. Millennium Management LLC now owns 802,722 shares of the company’s stock valued at $10,580,000 after buying an additional 703,550 shares during the period. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MLTX has been the subject of several research reports. Zacks Research upgraded MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. BTIG Research reaffirmed a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, March 30th. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and raised their price objective for the stock from $12.00 to $24.00 in a research report on Monday, March 23rd. HC Wainwright upped their target price on shares of MoonLake Immunotherapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Rothschild & Co Redburn raised shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $12.00 to $40.00 in a research report on Thursday, March 19th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.46.

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.