MoonLake Immunotherapeutics (NASDAQ:MLTX) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) posted its quarterly earnings data on Tuesday. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.05, Briefing.com reports.

MoonLake Immunotherapeutics Trading Up 2.0 %

Shares of NASDAQ MLTX opened at $37.40 on Wednesday. The stock has a market capitalization of $2.34 billion, a PE ratio of -35.96 and a beta of 1.49. MoonLake Immunotherapeutics has a 12-month low of $7.89 and a 12-month high of $63.40. The stock’s fifty day simple moving average is $52.57 and its two-hundred day simple moving average is $46.11.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus assumed coverage on MoonLake Immunotherapeutics in a report on Thursday, November 2nd. They issued a “buy” rating and a $74.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $78.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday, November 8th. Needham & Company LLC restated a “buy” rating and set a $76.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, October 16th. Bryan, Garnier & Co downgraded MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, September 14th. Finally, Barclays raised their price objective on MoonLake Immunotherapeutics from $41.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 12th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.90.

Insider Transactions at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, major shareholder Bihua Chen acquired 74,911 shares of the stock in a transaction dated Monday, October 2nd. The stock was purchased at an average price of $57.37 per share, with a total value of $4,297,644.07. Following the transaction, the insider now directly owns 8,217,011 shares of the company’s stock, valued at $471,409,921.07. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 15.27% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MLTX. Citadel Advisors LLC purchased a new position in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at about $13,916,000. FMR LLC purchased a new position in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at about $6,264,000. Price T Rowe Associates Inc. MD purchased a new position in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at about $4,439,000. Alliancebernstein L.P. purchased a new position in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at about $42,726,000. Finally, BlackRock Inc. raised its stake in shares of MoonLake Immunotherapeutics by 472.1% during the 2nd quarter. BlackRock Inc. now owns 657,534 shares of the company’s stock valued at $33,534,000 after buying an additional 542,604 shares during the last quarter.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It is developing Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases. The company is involved in conducting Phase II trials for hidradenitis suppurativa, psoriatic arthritis, ankylosing spondylitis, or axial spondyloarthritis.