Long Position on MLTX @ $58.50 on 12/22/2023 (Fundamentals)

MoonLake Immunotherapeutics (MLTX), a clinical-stage biopharmaceutical company, engages in developing therapies.

It is developing Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases.

The company is involved in conducting Phase II trials for hidradenitis suppurativa, psoriatic arthritis, ankylosing spondylitis, or axial spondyloarthritis. MoonLake Immunotherapeutics was incorporated in 2021 and is headquartered in Zug, Switzerland.

The company reported earnings on November 14th. MoonLake Immunotherapeutics reported a loss of $0.18 per share on revenue of $0.00 million for the third quarter ended September 2023. The consensus estimate was a loss of $0.22 per share. The company beat consensus estimates by 18.18%.

As the year comes to a close, this stock has proven to be one of the best performing biotech stocks.

Entry Point: $58.50

Trading Range: $9.25 - $63.40

Stop Loss: $55.60

Target Price: $64.35

Position closed on 1/19/2024 at price of $55.60 with a -4.96% loss in 28 days.

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