MoonLake Immunotherapeutics (NASDAQ:MLTX) Announces Earnings Results

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

MoonLake Immunotherapeutics Stock Up 0.3 %

MLTX stock traded up $0.16 during midday trading on Friday, hitting $50.83. The company’s stock had a trading volume of 64,411 shares, compared to its average volume of 376,770. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of -55.98 and a beta of 1.28. The stock’s 50-day moving average price is $49.25 and its 200 day moving average price is $45.32. MoonLake Immunotherapeutics has a 1 year low of $35.53 and a 1 year high of $64.98.

Insider Transactions at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $53.72, for a total value of $9,186,120.00. Following the transaction, the director now directly owns 171,980 shares in the company, valued at $9,238,765.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.02% of the company’s stock.

Analyst Upgrades and Downgrades

MLTX has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Wolfe Research cut MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.73.

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.