MoonLake Immunotherapeutics (NASDAQ:MLTX) Announces Earnings Results, Misses Expectations By $0.03 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) issued its earnings results on Tuesday. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03), Briefing.com reports.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ MLTX traded down $1.16 during trading hours on Wednesday, reaching $42.50. The stock had a trading volume of 30,393 shares, compared to its average volume of 438,853. The company has a market cap of $2.72 billion, a price-to-earnings ratio of -57.45 and a beta of 1.29. MoonLake Immunotherapeutics has a twelve month low of $24.31 and a twelve month high of $64.98. The business’s fifty day moving average is $46.31 and its two-hundred day moving average is $50.83.

Insiders Place Their Bets

In other news, insider Kristian Reich sold 10,000 shares of the stock in a transaction on 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 transaction, the insider now owns 110,071 shares in the company, valued at approximately $6,620,770.65. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Da Silva Jorge Santos sold 20,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $57.44, for a total transaction of $1,148,800.00. Following the completion of the transaction, the chief executive officer now directly owns 3,107,554 shares of the company’s stock, valued at approximately $178,497,901.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $601,500.00. Following the completion of the transaction, the insider now owns 110,071 shares in the company, valued at $6,620,770.65. The disclosure for this sale can be found here. Insiders have sold 166,981 shares of company stock worth $9,490,674 over the last 90 days. Corporate insiders own 15.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MLTX. HC Wainwright restated a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 23rd. Wolfe Research began coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They issued an “outperform” rating and a $77.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday. The Goldman Sachs Group started coverage on MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 price target for the company. Finally, William Blair reissued an “outperform” rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.46.

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.