Insider Selling: MoonLake Immunotherapeutics (NASDAQ:MLTX) CEO Sells $956,933.25 in Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) CEO Da Silva Jorge Santos sold 47,775 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $20.03, for a total transaction of $956,933.25. Following the sale, the chief executive officer owned 2,877,118 shares of the company’s stock, valued at approximately $57,628,673.54. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 Monday, April 13th, Da Silva Jorge Santos sold 51,873 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $18.23, for a total transaction of $945,644.79.
• On Friday, April 10th, Da Silva Jorge Santos sold 98,127 shares of MoonLake Immunotherapeutics stock. The shares were sold at an average price of $18.41, for a total transaction of $1,806,518.07.

MoonLake Immunotherapeutics Price Performance

MLTX stock opened at $18.95 on Friday. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -4.90 and a beta of 1.04. The company has a 50 day moving average of $18.33 and a two-hundred day moving average of $17.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued 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, equities analysts anticipate that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently bought and sold shares of the business. Cormorant Asset Management LP lifted its position in shares of MoonLake Immunotherapeutics by 118.4% in the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after buying an additional 2,361,260 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of 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 valued at $27,657,000 after acquiring an additional 2,084,888 shares during the last quarter. Logos Global Management LP acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at about $23,065,000. Weiss Asset Management LP raised its stake in shares of MoonLake Immunotherapeutics by 413.1% in the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock valued at $31,843,000 after acquiring an additional 1,375,367 shares in the last quarter. Finally, Vivo Capital LLC bought a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at approximately $13,180,000. 93.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on MLTX shares. Leerink Partners boosted their target price on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday. Needham & Company LLC raised their price target on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Rothschild & Co Redburn upgraded 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 report on Thursday, March 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 12th. Finally, BTIG Research restated a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, MoonLake Immunotherapeutics currently has an average rating of “Hold” and a consensus price target 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.