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

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

MoonLake Immunotherapeutics Stock Up 0.3 %

Shares of NASDAQ MLTX traded up $0.16 during mid-day trading on Friday, reaching $50.83. 64,411 shares of the company were exchanged, compared to its average volume of 376,770. MoonLake Immunotherapeutics has a 52 week low of $35.53 and a 52 week high of $64.98. The company’s 50 day moving average price is $49.25 and its 200 day moving average price is $45.32. The stock has a market capitalization of $3.25 billion, a PE ratio of -55.98 and a beta of 1.28.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wolfe Research downgraded 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 objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Friday. Finally, Needham & Company LLC restated a “buy” rating and issued a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Two investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $78.73.

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.