MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price Down 3.2% – Should You Sell?

MoonLake Immunotherapeutics (NASDAQ:MLTX)’s share price fell 3.2% during trading on Friday . The company traded as low as $50.21 and last traded at $50.21. 1,849 shares changed hands during trading, a decline of 99% from the average session volume of 355,601 shares. The stock had previously closed at $51.88.

Analyst Ratings Changes

Several equities analysts have issued reports on MLTX shares. Wolfe Research lowered MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Needham & Company LLC reissued a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Finally, Wedbush reissued 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, November 5th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.43.

MoonLake Immunotherapeutics Price Performance

The company has a market capitalization of $3.33 billion, a P/E ratio of -40.44 and a beta of 1.31. The stock’s fifty day simple moving average is $50.89 and its 200-day simple moving average is $47.76.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period in the prior year, the company earned ($0.18) EPS. On average, research analysts predict that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

Insider Transactions at MoonLake Immunotherapeutics

In other news, Director Simon Sturge sold 171,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the completion of the sale, the director now owns 171,980 shares in the company, valued at $9,238,765.60. The trade was a 49.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of MLTX. FMR LLC grew its stake in shares of MoonLake Immunotherapeutics by 35.8% during the third quarter. FMR LLC now owns 4,950,224 shares of the company’s stock worth $249,590,000 after purchasing an additional 1,306,215 shares during the period. Logos Global Management LP acquired a new position in shares of MoonLake Immunotherapeutics during the 2nd quarter worth about $32,978,000. Marshall Wace LLP increased its stake in shares of MoonLake Immunotherapeutics by 115.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after acquiring an additional 587,684 shares during the last quarter. Avoro Capital Advisors LLC raised its position in shares of MoonLake Immunotherapeutics by 7.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock valued at $121,797,000 after acquiring an additional 190,000 shares during the period. Finally, Millennium Management LLC boosted its stake in MoonLake Immunotherapeutics by 596.0% during the 2nd quarter. Millennium Management LLC now owns 216,964 shares of the company’s stock worth $9,540,000 after acquiring an additional 185,789 shares during the last quarter. 93.85% of the stock is owned by institutional investors.

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.