MoonLake Immunotherapeutics (NASDAQ:MLTX) Issues Earnings Results

MoonLake Immunotherapeutics (NASDAQ:MLTX) issued its earnings results on Thursday. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12), Briefing.com reports. During the same period in the previous year, the company posted ($0.18) earnings per share.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX opened at $51.78 on Friday. The stock has a 50 day moving average price of $49.35 and a 200 day moving average price of $45.41. The stock has a market capitalization of $3.31 billion, a PE ratio of -56.90 and a beta of 1.28. MoonLake Immunotherapeutics has a 52 week low of $35.53 and a 52 week high of $64.98.

Insiders Place Their Bets

In other news, Director Simon Sturge sold 171,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the sale, the director now owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 12.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MLTX. Wolfe Research cut shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Friday. Wedbush reaffirmed an “outperform” rating and set a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $78.80.

About MoonLake Immunotherapeutics

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.