Kristian Reich Sells 1,100 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 1,100 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $20.00, for a total value of $22,000.00. Following the sale, the insider owned 2,711,198 shares in the company, valued at $54,223,960. The trade was a 0.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, July 21st, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.02, for a total value of $1,001,000.00.
• 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 value 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 value of $971,500.00.
• On Monday, June 15th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $18.89, for a total value of $944,500.00.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX opened at $18.99 on Friday. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -4.91 and a beta of 1.04. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The stock’s 50-day moving average is $19.12 and its 200 day moving average is $17.85.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Monday, May 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.07). On average, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -3.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MLTX. Cormorant Asset Management LP raised its holdings in MoonLake Immunotherapeutics by 118.4% during the 4th quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock valued at $57,405,000 after buying an additional 2,361,260 shares during the last quarter. Janus Henderson Group PLC grew its holdings in MoonLake Immunotherapeutics by 64.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock worth $64,304,000 after acquiring an additional 1,355,640 shares during the last quarter. Logos Global Management LP bought a new stake in MoonLake Immunotherapeutics in the 4th quarter worth $23,065,000. Weiss Asset Management LP grew its holdings in MoonLake Immunotherapeutics by 413.1% in the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock worth $31,843,000 after acquiring an additional 1,375,367 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of MoonLake Immunotherapeutics by 17.8% in the second quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock valued at $53,715,000 after acquiring an additional 171,932 shares during the period. Institutional investors own 93.85% of the company’s stock.

Wall Street Analysts Forecast Growth

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