Kristian Reich Sells 50,000 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $20.02, for a total value of $1,001,000.00. Following the sale, the insider directly owned 2,714,746 shares of the company’s stock, valued at approximately $54,349,214.92. This represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kristian Reich also recently made the following trade(s):

• On Monday, July 27th, Kristian Reich sold 1,100 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.00, for a total transaction of $22,000.00.
• On Monday, July 20th, Kristian Reich sold 43,700 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.09, for a total transaction of $877,933.00.
• On Wednesday, June 17th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00.
• On Monday, June 15th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $18.89, for a total transaction of $944,500.00.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $18.38 on Thursday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -4.75 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60. MoonLake Immunotherapeutics has a 52 week low of $5.95 and a 52 week high of $62.75. The firm’s 50-day simple moving average is $19.11 and its two-hundred day simple moving average is $17.84.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). As a group, equities analysts forecast that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter worth $26,000. Bank of America Corp DE raised its stake in shares of MoonLake Immunotherapeutics by 64.7% during the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after purchasing an additional 1,781 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MoonLake Immunotherapeutics by 115.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock valued at $42,000 after buying an additional 3,166 shares during the period. Russell Investments Group Ltd. increased its position in shares of MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after buying an additional 1,069 shares during the period. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $47,000. Institutional investors own 93.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MLTX. HC Wainwright reissued a “buy” rating and issued a $45.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, July 20th. BTIG Research reiterated a “buy” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Leerink Partners lifted their price objective on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings restated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 12th. Finally, Needham & Company LLC upped their price objective on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, MoonLake Immunotherapeutics currently has an average rating of “Hold” and a consensus target price of $24.21.

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.