MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Down 7.3% – Here’s Why

MoonLake Immunotherapeutics (NASDAQ:MLTX) shares dropped 7.3% during mid-day trading on Monday . The stock traded as low as $17.52 and last traded at $17.1480. Approximately 815,548 shares changed hands during trading, a decline of 88% from the average daily volume of 6,866,944 shares. The stock had previously closed at $18.49.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MLTX shares. Guggenheim reduced their target price on MoonLake Immunotherapeutics from $80.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, September 30th. The Goldman Sachs Group restated a “neutral” rating and set a $7.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday, October 1st. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $10.00 price objective (down from $67.00) on shares of MoonLake Immunotherapeutics in a research note on Monday, September 29th. Citigroup downgraded MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 29th. Finally, BTIG Research raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Friday. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.54.

MoonLake Immunotherapeutics Stock Performance

The company has a quick ratio of 8.50, a current ratio of 8.50 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average of $13.18 and a 200 day moving average of $31.35. The stock has a market capitalization of $1.16 billion, a P/E ratio of -5.45 and a beta of 1.21.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.21). During the same quarter in the prior year, the business posted ($0.56) EPS. Research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Insider Transactions at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 130,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $15.08, for a total transaction of $1,960,400.00. Following the completion of the transaction, the insider owned 72,908 shares in the company, valued at $1,099,452.64. This trade represents a 64.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Da Silva Jorge Santos sold 130,000 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $15.08, for a total value of $1,960,400.00. Following the completion of the sale, the chief executive officer directly owned 2,948,577 shares in the company, valued at approximately $44,464,541.16. This represents a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 402,908 shares of company stock valued at $5,987,162. Corporate insiders own 12.05% of the company’s stock.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC bought a new stake in MoonLake Immunotherapeutics during the second quarter worth about $74,000. FNY Investment Advisers LLC bought a new position in shares of MoonLake Immunotherapeutics in the third quarter valued at approximately $28,000. Bank of America Corp DE boosted its holdings in shares of MoonLake Immunotherapeutics by 64.7% in the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock worth $32,000 after acquiring an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in MoonLake Immunotherapeutics by 115.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock worth $42,000 after acquiring an additional 3,166 shares during the last quarter. Finally, Covestor Ltd bought a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth approximately $46,000. 93.85% of the stock is owned by institutional investors.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immunomodulatory therapies for autoimmune and inflammatory diseases. The company leverages a proprietary platform designed to selectively modulate key immune cell populations, aiming to restore immune balance and reduce tissue damage with targeted biologic candidates.

Its lead asset, MLTX101, is a recombinant immune cell modulator in clinical development for myositis, including inclusion body myositis and dermatomyositis.