MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Gap Down – Should You Sell?

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $21.22, but opened at $19.39. MoonLake Immunotherapeutics shares last traded at $19.20, with a volume of 2,034,344 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MLTX. Weiss Ratings restated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. HC Wainwright reiterated a “buy” rating and set a $45.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, June 8th. Royal Bank Of Canada lifted their target price on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Oppenheimer boosted 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, Needham & Company LLC upped their price target on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Nine equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.85.

MoonLake Immunotherapeutics Stock Down 4.3%

The company has a market capitalization of $1.49 billion, a PE ratio of -5.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60. The company has a 50-day moving average of $18.08 and a two-hundred day moving average of $16.78.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.07). Sell-side analysts anticipate that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 50,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $19.43, for a total value of $971,500.00. Following the transaction, the insider owned 2,824,551 shares of the company’s stock, valued at $54,881,025.93. This represents a 1.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bvf Partners L. P/Il sold 3,750,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director owned 1,039,238 shares in the company, valued at $17,448,806.02. This represents a 78.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 4,000,000 shares of company stock valued at $67,630,663 in the last three months. Corporate insiders own 12.05% of the company’s stock.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new position in shares of MoonLake Immunotherapeutics during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its holdings in MoonLake Immunotherapeutics by 221.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock worth $53,000 after purchasing an additional 1,974 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of MoonLake Immunotherapeutics by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after purchasing an additional 1,069 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter worth $47,000. Finally, FNY Investment Advisers LLC purchased a new position in MoonLake Immunotherapeutics during the 3rd quarter worth $28,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

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.