MoonLake Immunotherapeutics (NASDAQ:MLTX) Releases Earnings Results, Misses Expectations By $0.12 EPS

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

MoonLake Immunotherapeutics Trading Up 2.2 %

NASDAQ MLTX opened at $51.78 on Friday. The firm has a market capitalization of $3.31 billion, a PE ratio of -56.90 and a beta of 1.28. The business’s 50-day moving average price is $49.35 and its two-hundred day moving average price is $45.41. MoonLake Immunotherapeutics has a 12 month low of $35.53 and a 12 month high of $64.98.

Analyst Upgrades and Downgrades

MLTX has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Needham & Company LLC restated a “buy” rating and issued a $62.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Wolfe Research cut MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Wedbush restated an “outperform” rating and issued a $73.00 price target (down from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Friday. Two equities 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $78.80.

Insider Buying and Selling

In other news, Director Simon Sturge sold 171,000 shares of the company’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 sale, the director now directly owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.02% of the stock is owned by insiders.

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.