Insider Selling: MoonLake Immunotherapeutics (NASDAQ:MLTX) CEO Sells $679,059.36 in Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) CEO Da Silva Jorge Santos sold 33,936 shares of MoonLake Immunotherapeutics stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $20.01, for a total transaction of $679,059.36. Following the transaction, the chief executive officer owned 2,843,182 shares in the company, valued at $56,892,071.82. This represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Da Silva Jorge Santos also recently made the following trade(s):

• On Friday, July 10th, Da Silva Jorge Santos sold 68,289 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $20.02, for a total transaction of $1,367,145.78.
• On Wednesday, July 1st, Da Silva Jorge Santos sold 47,775 shares of MoonLake Immunotherapeutics stock. The stock was sold at an average price of $20.03, for a total value of $956,933.25.

MoonLake Immunotherapeutics Stock Performance

MoonLake Immunotherapeutics stock traded up $0.05 during trading on Monday, reaching $20.41. The company had a trading volume of 1,315,029 shares, compared to its average volume of 1,539,808. 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 $18.60 and its 200 day simple moving average is $17.26. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -5.27 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 (NASDAQ:MLTX) last released its 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 forecast that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of MLTX. Kestra Advisory Services LLC purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its position in shares of MoonLake Immunotherapeutics by 221.1% during 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 in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the second quarter worth about $58,000. Russell Investments Group Ltd. raised its stake in 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 period. Finally, T. Rowe Price Investment Management Inc. bought a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at approximately $47,000. 93.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MLTX shares. Leerink Partners boosted 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. BTIG Research restated a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Wolfe Research raised shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and lifted their price target for the company from $12.00 to $24.00 in a report on Monday, March 23rd. Needham & Company LLC upped their price target on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.21.

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.