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

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $18.89, for a total value of $944,500.00. Following the sale, the insider owned 2,924,551 shares of the company’s stock, valued at approximately $55,244,768.39. This represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 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.

MoonLake Immunotherapeutics Trading Up 0.1%

NASDAQ:MLTX opened at $19.21 on Friday. The company has a market capitalization of $1.41 billion, a P/E ratio of -4.96 and a beta of 1.04. The stock’s 50 day moving average price is $17.94 and its 200 day moving average price is $16.62. 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.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Monday, May 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). On average, research analysts forecast that MoonLake Immunotherapeutics will post -3.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MLTX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 12th. Royal Bank Of Canada increased their target price on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Rothschild & Co Redburn upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their target price for the company from $12.00 to $40.00 in a report on Thursday, March 19th. Oppenheimer upped their price target on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Finally, HC Wainwright reissued a “buy” rating and set a $45.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, June 8th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.85.

Institutional Trading of MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Avidity Partners Management LP bought a new stake in shares of MoonLake Immunotherapeutics during the 1st quarter worth $932,000. Bank of America Corp DE raised its holdings in MoonLake Immunotherapeutics by 5,255.8% in the 1st quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock worth $13,510,000 after acquiring an additional 711,261 shares during the period. Janus Henderson Group PLC raised 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 period. EverSource Wealth Advisors LLC lifted its position in MoonLake Immunotherapeutics by 221.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock worth $53,000 after acquiring an additional 1,974 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new position in MoonLake Immunotherapeutics during the 1st quarter worth $2,689,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.