MoonLake Immunotherapeutics (NASDAQ:MLTX) Posts Earnings Results, Misses Estimates By $0.12 EPS

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

MoonLake Immunotherapeutics Price Performance

Shares of MoonLake Immunotherapeutics stock traded up $0.20 during trading on Friday, reaching $50.87. 67,858 shares of the stock traded hands, compared to its average volume of 376,786. MoonLake Immunotherapeutics has a 52-week low of $35.53 and a 52-week high of $64.98. The business has a fifty day simple moving average of $49.25 and a two-hundred day simple moving average of $45.32. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -55.86 and a beta of 1.28.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.02% of the company’s stock.

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.