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

MoonLake Immunotherapeutics (NASDAQ:MLTX) announced its quarterly earnings data 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 last year, the firm earned ($0.18) EPS.

MoonLake Immunotherapeutics Stock Up 1.9 %

Shares of MoonLake Immunotherapeutics stock traded up $0.97 during trading hours on Friday, hitting $51.64. The company’s stock had a trading volume of 103,543 shares, compared to its average volume of 376,889. MoonLake Immunotherapeutics has a 1-year low of $35.53 and a 1-year high of $64.98. The business has a fifty day moving average of $49.25 and a 200 day moving average of $45.32. The company has a market capitalization of $3.30 billion, a PE ratio of -55.86 and a beta of 1.28.

Wall Street Analysts Forecast Growth

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

Insider Transactions at MoonLake Immunotherapeutics

In other news, Director Simon Sturge sold 171,000 shares of the 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 sale, the director now owns 171,980 shares of the company’s stock, valued at $9,238,765.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.