MoonLake Immunotherapeutics (NASDAQ:MLTX) CEO Simon Sturge is selling 171,000 shares

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MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Your Free Report ) Director Simon Sturge sold 171,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 171,980 shares of the company’s stock, valued at $9,238,765.60. The trade was a 0.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible via this hyperlink.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX opened at $47.69 on Thursday. The company has a 50 day simple moving average of $48.53 and a two hundred day simple moving average of $45.10. MoonLake Immunotherapeutics has a fifty-two week low of $35.11 and a fifty-two week high of $64.98. The company has a market cap of $3.05 billion, a price-to-earnings ratio of -63.59 and a beta of 1.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report ) last issued its earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same period last year, the company earned ($0.23) earnings per share. On average, analysts expect that MoonLake Immunotherapeutics will post -1.57 earnings per share for the current fiscal year.

Institutional investors step into MoonLake immunotherapy

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Several institutional investors have recently modified their holdings of MLTX. Logos Global Management LP bought a new stake in shares of MoonLake Immunotherapeutics in the second quarter valued at approximately $32,978,000. Marshall Wace LLP boosted its stake in shares of MoonLake Immunotherapeutics by 115.0% during the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after purchasing an additional 587,684 shares in the last quarter. Avoro Capital Advisors LLC raised its stake in MoonLake Immunotherapeutics by 29.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock, valued at $155,806,000 after buying another 580,001 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of MoonLake Immunotherapeutics by 48.8% in the first quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock valued at $45,753,000 after buying an additional 298,823 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of MoonLake Immunotherapeutics by 9.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock worth $139,744,000 after buying an additional 196,144 shares during the last quarter. 93.85% of shares are owned by hedge funds and other institutional investors.

Changes in Analyst Ratings

Several research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Oppenheimer initiated coverage on MoonLake Immunotherapy in a research note on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 target price on the stock. Finally, Wolfe Research cut MoonLake Immunotherapeutics from an “outperform” rating to an “outperform” rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, MoonLake Immunotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.45.

Check out our latest report on MLTX

About MoonLake Immunotherapeutics

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MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, is engaged in the development of therapeutics. She is developing Sonelokimab, a new Nanobody being investigated for the treatment of inflammatory diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was founded in 2020 and is based in Zug, Switzerland.