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

MoonLake Immunotherapeutics (NASDAQ:MLTX) insider Kristian Reich sold 50,000 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $19.43, for a total value of $971,500.00. Following the completion of the sale, the insider owned 2,824,551 shares of the company’s stock, valued at $54,881,025.93. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kristian Reich also recently made the following trade(s):

• On Monday, June 15th, Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $18.89, for a total value of $944,500.00.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $19.19 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60. The stock has a 50 day simple moving average of $17.90 and a 200 day simple moving average of $16.58. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. The firm has a market capitalization of $1.41 billion, a PE ratio of -4.96 and a beta of 1.04.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on MLTX shares. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday, June 8th. BTIG Research reiterated a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Rothschild & Co Redburn raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $12.00 to $40.00 in a research note on Thursday, March 19th. Oppenheimer boosted their price target on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $23.85.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MLTX. Cormorant Asset Management LP grew its position in MoonLake Immunotherapeutics by 118.4% in the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock valued at $57,405,000 after purchasing an additional 2,361,260 shares in the last quarter. Janus Henderson Group PLC lifted its position in MoonLake Immunotherapeutics by 18,782.8% during the 4th quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock worth $27,657,000 after buying an additional 2,084,888 shares in the last quarter. Logos Global Management LP bought a new stake in MoonLake Immunotherapeutics during the 4th quarter worth about $23,065,000. Weiss Asset Management LP boosted its stake in shares of MoonLake Immunotherapeutics by 413.1% during the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock worth $31,843,000 after buying an additional 1,375,367 shares during the last quarter. Finally, Vivo Capital LLC acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter worth about $13,180,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.