Q2 2024 EPS Estimates for MoonLake Immunotherapeutics Decreased by Leerink Partnrs (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX) – Analysts at Leerink Partnrs decreased their Q2 2024 earnings estimates for MoonLake Immunotherapeutics in a research note issued on Tuesday, May 7th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of ($0.23) for the quarter, down from their prior forecast of ($0.16). The consensus estimate for MoonLake Immunotherapeutics’ current full-year earnings is ($1.11) per share. Leerink Partnrs also issued estimates for MoonLake Immunotherapeutics’ Q3 2024 earnings at ($0.26) EPS, Q4 2024 earnings at ($0.27) EPS, FY2024 earnings at ($0.82) EPS, FY2025 earnings at ($1.39) EPS, FY2026 earnings at ($2.26) EPS, FY2027 earnings at ($3.09) EPS and FY2028 earnings at $2.01 EPS.

A number of other analysts have also recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 target price for the company. William Blair restated an “outperform” rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Wednesday. Finally, Wolfe Research initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They set an “outperform” rating and a $77.00 target price for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $74.46.

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX opened at $41.97 on Friday. The firm has a 50-day moving average of $45.90 and a 200-day moving average of $50.71. The stock has a market cap of $2.68 billion, a PE ratio of -55.22 and a beta of 1.29. MoonLake Immunotherapeutics has a 52-week low of $24.31 and a 52-week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03).

Insider Activity at MoonLake Immunotherapeutics

In related news, CEO Da Silva Jorge Santos sold 20,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $60.18, for a total transaction of $1,203,600.00. Following the sale, the chief executive officer now directly owns 3,147,554 shares of the company’s stock, valued at approximately $189,419,799.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Kristian Reich sold 10,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $60.15, for a total transaction of $601,500.00. Following the sale, the insider now directly owns 110,071 shares of the company’s stock, valued at approximately $6,620,770.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Da Silva Jorge Santos sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $60.18, for a total transaction of $1,203,600.00. Following the sale, the chief executive officer now directly owns 3,147,554 shares in the company, valued at $189,419,799.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 166,981 shares of company stock valued at $9,490,674. 15.27% of the stock is owned by insiders.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently added to or reduced their stakes in the business. Walleye Capital LLC bought a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth approximately $3,872,000. Soros Fund Management LLC bought a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth approximately $3,192,000. Swiss National Bank bought a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth approximately $2,269,000. CenterBook Partners LP bought a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth approximately $651,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in MoonLake Immunotherapeutics by 48.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,699 shares of the company’s stock worth $1,129,000 after acquiring an additional 6,112 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.