MoonLake Immunotherapeutics (MLTX)
Market Price (5/22/2026): $18.11 | Market Cap: $1.3 BilSector: Health Care | Industry: Biotechnology
MoonLake Immunotherapeutics (MLTX)
Market Price (5/22/2026): $18.11Market Cap: $1.3 BilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -20% Megatrend and thematic driversMegatrends include Precision Medicine. Themes include Targeted Therapies, and Biopharmaceutical R&D. | Weak multi-year price returns2Y Excs Rtn is -95%, 3Y Excs Rtn is -113% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -267 Mil Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -24% High stock price volatilityVol 12M is 117% Key risksMLTX key risks include [1] regulatory uncertainty for its lead drug, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -20% |
| Megatrend and thematic driversMegatrends include Precision Medicine. Themes include Targeted Therapies, and Biopharmaceutical R&D. |
| Weak multi-year price returns2Y Excs Rtn is -95%, 3Y Excs Rtn is -113% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -267 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -24% |
| High stock price volatilityVol 12M is 117% |
| Key risksMLTX key risks include [1] regulatory uncertainty for its lead drug, Show more. |
Qualitative Assessment
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1. Significant regulatory progress for sonelokimab in Hidradenitis Suppurativa (HS) boosted investor confidence. MoonLake Immunotherapeutics announced a positive outcome from its final pre-Biologics License Application (BLA) meeting with the U.S. FDA on May 10, 2026. The FDA aligned on the submission plans and label strategy for sonelokimab in adult and adolescent HS, and agreed to include data from both the Phase 2 MIRA study and Phase 3 VELA trials to establish effectiveness. This clarity on the regulatory pathway, with a BLA filing planned for end-September 2026 and potential for Priority Review, led to a more than 10% stock increase on the news.
2. Positive clinical trial results across multiple inflammatory disease indications. The company reported positive topline results from its Phase 2 S-OLARIS trial for sonelokimab in axial spondyloarthritis (axSpA) on February 22, 2026, demonstrating that 81% of patients achieved an ASAS40 response by Week 12. This news contributed to shares jumping 19% within a week. Additionally, MoonLake announced favorable Week 40 results from its Phase 3 VELA trials of sonelokimab in HS on March 28, 2026, showing significant efficacy with 62% HiSCR75 and up to 32% HiSCR100, without new safety signals.
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Stock Movement Drivers
Fundamental Drivers
The 17.9% change in MLTX stock from 1/31/2026 to 5/21/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.67 | 18.47 | 17.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 63 | 71 | -11.1% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2026 to 5/21/2026| Return | Correlation | |
|---|---|---|
| MLTX | 17.9% | |
| Market (SPY) | 7.6% | 46.8% |
| Sector (XLV) | -3.9% | 31.4% |
Fundamental Drivers
The 82.9% change in MLTX stock from 10/31/2025 to 5/21/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.10 | 18.47 | 82.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 63 | 71 | -11.2% |
| Cumulative Contribution | 0.0% |
Market Drivers
10/31/2025 to 5/21/2026| Return | Correlation | |
|---|---|---|
| MLTX | 82.9% | |
| Market (SPY) | 9.5% | 28.9% |
| Sector (XLV) | 3.6% | 12.5% |
Fundamental Drivers
The -56.1% change in MLTX stock from 4/30/2025 to 5/21/2026 was primarily driven by a -11.5% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302025 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 42.08 | 18.47 | -56.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 63 | 71 | -11.5% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2025 to 5/21/2026| Return | Correlation | |
|---|---|---|
| MLTX | -56.1% | |
| Market (SPY) | 35.5% | 13.0% |
| Sector (XLV) | 7.3% | 10.9% |
Fundamental Drivers
The -13.3% change in MLTX stock from 4/30/2023 to 5/21/2026 was primarily driven by a -43.9% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302023 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.30 | 18.47 | -13.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 40 | 71 | -43.9% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2023 to 5/21/2026| Return | Correlation | |
|---|---|---|
| MLTX | -13.3% | |
| Market (SPY) | 85.6% | 13.9% |
| Sector (XLV) | 16.6% | 10.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MLTX Return | -13% | 6% | 475% | -10% | -76% | 29% | 50% |
| Peers Return | 36% | 15% | 5% | 8% | 30% | 2% | 134% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| MLTX Win Rate | 25% | 67% | 58% | 42% | 50% | 80% | |
| Peers Win Rate | 60% | 60% | 47% | 50% | 60% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| MLTX Max Drawdown | -23% | -64% | -42% | -40% | -90% | -20% | |
| Peers Max Drawdown | -16% | -18% | -24% | -20% | -21% | -15% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ABBV, LLY, JNJ, AMGN, PFE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/21/2026 (YTD)
How Low Can It Go
| Event | MLTX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.6% | -18.8% |
| % Gain to Breakeven | 27.6% | 23.1% |
| Time to Breakeven | 22 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -35.4% | -9.5% |
| % Gain to Breakeven | 54.7% | 10.5% |
| Time to Breakeven | 38 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -52.7% | -24.5% |
| % Gain to Breakeven | 111.5% | 32.4% |
| Time to Breakeven | 198 days | 427 days |
In The Past
MoonLake Immunotherapeutics's stock fell -21.6% during the 2025 US Tariff Shock. Such a loss loss requires a 27.6% gain to breakeven.
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| Event | MLTX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.6% | -18.8% |
| % Gain to Breakeven | 27.6% | 23.1% |
| Time to Breakeven | 22 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -35.4% | -9.5% |
| % Gain to Breakeven | 54.7% | 10.5% |
| Time to Breakeven | 38 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -52.7% | -24.5% |
| % Gain to Breakeven | 111.5% | 32.4% |
| Time to Breakeven | 198 days | 427 days |
In The Past
MoonLake Immunotherapeutics's stock fell -21.6% during the 2025 US Tariff Shock. Such a loss loss requires a 27.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About MoonLake Immunotherapeutics (MLTX)
AI Analysis | Feedback
Here are 1-3 brief analogies for MoonLake Immunotherapeutics (MLTX):
- An early-stage AbbVie, but entirely focused on developing novel treatments for inflammatory diseases.
- A startup Eli Lilly, aiming to discover breakthrough drugs for autoimmune and inflammatory conditions.
AI Analysis | Feedback
MoonLake Immunotherapeutics (MLTX) is developing the following major product:
- Sonelokimab: A novel investigational Nanobody therapy currently in Phase II clinical trials for the treatment of various inflammatory conditions.
AI Analysis | Feedback
MoonLake Immunotherapeutics (MLTX) is a clinical-stage biopharmaceutical company focused on developing therapies. As per the provided description, the company is currently involved in conducting Phase II trials for its investigational therapy, Sonelokimab. This indicates that MoonLake Immunotherapeutics is in the research and development phase and does not yet have any approved products on the market for sale.
Therefore, MoonLake Immunotherapeutics does not have major customers at this time, as it is not generating revenue from product sales.
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Lonza Group Ltd. (SIX: LONN)
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Jorge Santos da Silva, Co-Founder and Chief Executive Officer
Jorge Santos da Silva co-founded MoonLake Immunotherapeutics in 2021 and took the company public on NASDAQ in 2022. Prior to MoonLake, he was a Senior Partner at McKinsey & Company for nearly 15 years, leading the Pharmaceutical & Medical Products Practice in Zurich. At McKinsey, he advised international biopharma and biotech companies on corporate and business-unit strategy, R&D, organizational design, and mergers and acquisitions. He also led McKinsey's Biotech group and Biosimilars group. He holds a Ph.D. in Neuroscience and has over a decade of experience in academic research.
Matthias Bodenstedt, Chief Financial Officer and Principal Accounting Officer
Matthias Bodenstedt joined MoonLake Immunotherapeutics as Chief Financial Officer in July 2021. Before MoonLake, he was a Partner at McKinsey & Company from 2011 to 2021, where he gained extensive experience in the biopharmaceutical industry with a focus on finance and commercial strategy. He advised a wide range of clients, from pre-revenue biotechs to large global pharmaceutical companies, on topics such as financing, M&A, business development and licensing, portfolio strategy, and go-to-market strategy. He holds an M.B.A. from Columbia Business School, an MPhil in Finance from the University of Cambridge, and a B.Sc. in Industrial Engineering from the University of Hannover.
Kristian Reich, Co-Founder and Chief Scientific Officer
Kristian Reich is a Co-Founder of MoonLake Immunotherapeutics and serves as its Chief Scientific Officer. He is a globally recognized dermatologist and key opinion leader who previously served as a principal investigator in Merck's psoriasis program.
Arnout Ploos van Amstel, Co-Founder and Chief Operating Officer
Arnout Ploos van Amstel is a Co-Founder of MoonLake Immunotherapeutics and holds the position of Chief Operating Officer. He was appointed COO in May 2021.
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Key Risks to MoonLake Immunotherapeutics (MLTX)
- Clinical Trial Outcomes and Single Asset Dependence: MoonLake Immunotherapeutics' business success is overwhelmingly dependent on the successful development and approval of its lead and sole clinical-stage asset, Sonelokimab. The highly binary nature of this risk was starkly demonstrated by a nearly 90% stock price collapse following mixed Phase 3 trial results for Sonelokimab in hidradenitis suppurativa (HS), where one of two pivotal studies failed to meet its primary endpoint due to a higher-than-expected placebo response. Any further setbacks in ongoing Phase 2 or Phase 3 trials for other indications, such as psoriatic arthritis or axial spondyloarthritis, could significantly jeopardize the company's future prospects.
- Regulatory Approval and Commercialization Challenges: Even if Sonelokimab demonstrates clinical efficacy, there is no guarantee of regulatory approval. Analyst skepticism regarding the drug's approval path and commercial potential, particularly given observations that its effects might appear "uncompetitive" compared to existing treatments like Bimzelx for HS, highlight significant hurdles. Navigating the complex regulatory landscape and securing market access, especially in a competitive therapeutic area with established treatments, remains a critical risk.
- Financial Sustainability and Funding Needs: As a clinical-stage biopharmaceutical company, MoonLake Immunotherapeutics currently generates zero revenue and has a history of widening operating losses, reporting a net loss of $227.32 million in 2025. This heavy cash burn and lack of a near-term path to profitability necessitate substantial ongoing funding. While the company has secured a debt facility and reports cash runway into the second half of 2027, the increasing losses underscore persistent funding needs. This financial profile introduces the risk of future equity raises, which could lead to dilution for existing shareholders.
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The most clear emerging threat to MoonLake Immunotherapeutics (MLTX) is the advanced development and regulatory status of bimekizumab by UCB.
Bimekizumab is a dual inhibitor of IL-17A and IL-17F, a mechanism of action identical to MLTX's lead investigational Nanobody therapy, Sonelokimab.
UCB's bimekizumab is already approved for psoriatic arthritis (PsA) in key markets and has completed positive Phase 3 trials with regulatory submissions for hidradenitis suppurativa (HS). These indications are primary targets for MoonLake's Sonelokimab.
This means a highly similar drug from a larger pharmaceutical company is significantly ahead in development and market establishment in MLTX's core therapeutic areas, posing a direct competitive challenge to Sonelokimab's future market entry and potential market share.
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MoonLake Immunotherapeutics (MLTX) is developing Sonelokimab for the treatment of several inflammatory conditions. The addressable markets for these conditions are significant:
- Hidradenitis Suppurativa (HS): The global hidradenitis suppurativa market was valued at USD 799.49 million in 2024 and is projected to reach USD 1154.47 million by 2032. Another estimate places the global market at USD 883.0 million in 2025, expected to reach USD 1570.4 million by 2032. For the seven major pharmaceutical markets (7MM: US, France, Germany, Italy, Spain, UK, and Japan), the market is forecasted to grow from USD 1.84 billion in 2024 to USD 7.83 billion in 2034. The U.S. market alone for hidradenitis suppurativa was approximately USD 1,100 million in 2023.
- Psoriatic Arthritis: The global psoriatic arthritis treatment market was valued at USD 12.18 billion in 2024 and is projected to reach USD 25.89 billion by 2034. In 2023, the global market size was USD 10.2 billion, estimated to grow to USD 23.3 billion by 2032. The U.S. psoriatic arthritis treatment market size was USD 3.58 billion in 2024 and is projected to reach USD 7.76 billion by 2034.
- Ankylosing Spondylitis (AS): The global ankylosing spondylitis market is estimated at USD 6.64 billion in 2025 and is projected to reach USD 11.84 billion in 2034. Another report indicates the global market size was USD 6.7 billion in 2025, projected to reach around USD 11.83 billion by 2035. The 7 major markets for ankylosing spondylitis reached a total value of USD 5.10 billion in 2024, with projections to reach USD 10.03 billion by 2035. The U.S. ankylosing spondylitis market was valued at USD 3.29 billion in 2024 and is expected to reach USD 3.49 billion in 2025.
- Radiographic Axial Spondyloarthritis (r-axSpA) (as part of Axial Spondyloarthritis): The global axial spondyloarthritis (axSpA) market, which includes both radiographic and non-radiographic forms, was valued at USD 5.2 billion in 2022 and is expected to reach USD 10.1 billion by 2032. The global axial spondyloarthritis market is also estimated to be valued at USD 4.72 billion in 2026 and is expected to reach USD 7.61 billion by 2033. North America is a leading market for axial spondyloarthritis, accounting for approximately 45% of the global market share. The total prevalent population of axial spondyloarthritis in the 7MM was approximately 4,575,000 in 2023.
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Expected Drivers of Future Revenue Growth for MoonLake Immunotherapeutics (MLTX)
Over the next two to three years, MoonLake Immunotherapeutics' future revenue growth is expected to be driven primarily by the advancement and potential commercialization of its lead investigational Nanobody therapy, Sonelokimab, across multiple inflammatory indications.
-
Regulatory Approval and Commercial Launch in Hidradenitis Suppurativa (HS): A significant driver of future revenue is the anticipated regulatory approval and subsequent commercial launch of Sonelokimab for the treatment of hidradenitis suppurativa. MoonLake plans to submit a Biologics License Application (BLA) for Sonelokimab in HS in the second half of 2026, with potential U.S. approval expected in mid-2027. The HS market represents a substantial commercial opportunity.
-
Successful Progression and Potential Regulatory Approval in Psoriatic Arthritis (PsA): The successful completion of Phase 3 trials and potential regulatory approval of Sonelokimab in psoriatic arthritis is another key revenue driver. Primary endpoint data from the Phase 3 trials in PsA are expected in Q2 2026, with a supplemental BLA potentially filed in Q3 2027. The PsA biologic market is a large and growing segment.
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Advancement and Potential Regulatory Approval in Palmoplantar Pustulosis (PPP): MoonLake's progress with Sonelokimab in palmoplantar pustulosis, which has received FDA Fast Track designation, is expected to contribute to future revenue. This designation can accelerate development, with a BLA targeting Q3/Q4 2026. As a potential first-approved therapy, Sonelokimab could capture a meaningful share of this market.
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Expansion into Additional Inflammatory Indications and Adolescent HS: Continued positive clinical development and the eventual expansion of Sonelokimab into other inflammatory indications, such as axial spondyloarthritis (axSpA) and adolescent HS, will further drive revenue growth. Positive Phase 2 results for Sonelokimab in axSpA indicate further clinical development, and promising interim data from the VELA-TEEN study in adolescent HS could support a broader label including adolescents.
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Share Issuance
- In November 2025, MoonLake Immunotherapeutics priced an underwritten offering of 7,142,857 Class A ordinary shares at $10.50 per share, generating gross proceeds of approximately $75 million.
- The company priced an upsized underwritten public offering of 8,000,000 Class A ordinary shares at $50.00 per share in June 2023, expecting gross proceeds of $400 million.
- In late 2021/early 2022, as part of its business combination with Helix Acquisition Corp. to become publicly listed, MoonLake Immunotherapeutics secured commitments for a $115 million PIPE (private investment in public equity).
Inbound Investments
- MoonLake Immunotherapeutics secured up to $500 million in non-dilutive financing from Hercules Capital in April 2025, with $75 million drawn at closing and additional tranches available upon achieving specific milestones.
- In February 2026, the company amended its debt facility with Hercules Capital, drawing down $25 million, with up to $400 million in non-dilutive funds remaining accessible for future needs.
- The company closed a Series A financing round in May 2021, led by BVF Partners LP, which also included investments from Merck KGaA, Darmstadt, Germany.
Capital Expenditures
- MoonLake Immunotherapeutics reported capital expenditures of -$35,000 in the last 12 months leading up to March 6, 2026.
- The company anticipates its cash, cash equivalents, and short-term marketable debt securities will be sufficient to cover operating expenses and capital expenditure requirements into the second half of 2027.
- The primary focus of capital expenditures is funding the research and development of sonelokimab and general corporate purposes. Research and development expenses for the quarter ended September 30, 2025, were $60.6 million.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| MLTX Dip Buy Analysis | 07/10/2025 | |
| MoonLake Immunotherapeutics (MLTX) Valuation Ratios Comparison | 05/15/2025 | |
| null | 02/28/2025 | |
| MoonLake Immunotherapeutics (MLTX) Operating Cash Flow Comparison | 02/17/2025 | |
| MoonLake Immunotherapeutics (MLTX) Net Income Comparison | 02/16/2025 | |
| MoonLake Immunotherapeutics (MLTX) Operating Income Comparison | 02/15/2025 | |
| MoonLake Immunotherapeutics (MLTX) Revenue Comparison | 02/13/2025 | |
| Fundamental Metrics: ... | 06/19/2024 | |
| ARTICLES | ||
| Market Movers | Winners: WOLF, BQ, YCBD | Losers: MLTX, KALA, IOBT | 09/30/2025 | |
| What’s Next For Moonlake Immunotherapeutics? | 09/29/2025 |
Trade Ideas
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| 04302026 | GEHC | GE HealthCare Technologies | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
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| 04302026 | ABT | Abbott Laboratories | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ZBIO | Zenas BioPharma | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 223.12 |
| Mkt Cap | 280.9 |
| Rev LTM | 63,066 |
| Op Inc LTM | 18,176 |
| FCF LTM | 9,926 |
| FCF 3Y Avg | 8,736 |
| CFO LTM | 16,232 |
| CFO 3Y Avg | 11,337 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.1% |
| Rev Chg 3Y Avg | 4.4% |
| Rev Chg Q | 9.9% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | 31.3% |
| Op Inc Chg 3Y Avg | 10.4% |
| Op Mgn LTM | 28.4% |
| Op Mgn 3Y Avg | 25.6% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 28.3% |
| CFO/Rev 3Y Avg | 26.2% |
| FCF/Rev LTM | 18.1% |
| FCF/Rev 3Y Avg | 20.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 280.9 |
| P/S | 5.8 |
| P/Op Inc | 17.7 |
| P/EBIT | 18.5 |
| P/E | 24.9 |
| P/CFO | 17.4 |
| Total Yield | 5.0% |
| Dividend Yield | 2.5% |
| FCF Yield 3Y Avg | 4.7% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.5% |
| 3M Rtn | -2.7% |
| 6M Rtn | 6.3% |
| 12M Rtn | 25.0% |
| 3Y Rtn | 62.6% |
| 1M Excs Rtn | 0.4% |
| 3M Excs Rtn | -10.5% |
| 6M Excs Rtn | -9.1% |
| 12M Excs Rtn | -2.2% |
| 3Y Excs Rtn | -19.7% |
Price Behavior
| Market Price | $18.47 | |
| Market Cap ($ Bil) | 1.3 | |
| First Trading Date | 10/20/2020 | |
| Distance from 52W High | -70.2% | |
| 50 Days | 200 Days | |
| DMA Price | $17.40 | $22.24 |
| DMA Trend | down | up |
| Distance from DMA | 6.2% | -16.9% |
| 3M | 1YR | |
| Volatility | 63.7% | 117.5% |
| Downside Capture | 284.79 | 84.73 |
| Upside Capture | 205.50 | -27.82 |
| Correlation (SPY) | 47.6% | 12.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.52 | 2.04 | 2.03 | 1.75 | 1.15 | 0.85 |
| Up Beta | 3.68 | 3.13 | 2.35 | 1.77 | 2.06 | 1.08 |
| Down Beta | -4.78 | 0.23 | 0.35 | 1.72 | 0.41 | 0.81 |
| Up Capture | 113% | 167% | 259% | 319% | -25% | 13% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 10 | 21 | 30 | 64 | 129 | 381 |
| Down Capture | 1119% | 216% | 207% | 109% | 81% | 81% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 11 | 21 | 33 | 59 | 118 | 366 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MLTX | |
|---|---|---|---|---|
| MLTX | -53.9% | 117.6% | 0.72 | - |
| Sector ETF (XLV) | 12.0% | 14.7% | 0.55 | 8.5% |
| Equity (SPY) | 26.8% | 12.1% | 1.67 | 12.3% |
| Gold (GLD) | 37.5% | 26.8% | 1.16 | 3.5% |
| Commodities (DBC) | 43.5% | 18.6% | 1.80 | 0.2% |
| Real Estate (VNQ) | 12.0% | 13.4% | 0.59 | 10.2% |
| Bitcoin (BTCUSD) | -27.2% | 41.8% | -0.65 | -2.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MLTX | |
|---|---|---|---|---|
| MLTX | 9.5% | 93.5% | 0.75 | - |
| Sector ETF (XLV) | 5.4% | 14.6% | 0.19 | 11.5% |
| Equity (SPY) | 13.8% | 17.0% | 0.64 | 13.3% |
| Gold (GLD) | 19.3% | 18.0% | 0.87 | 2.2% |
| Commodities (DBC) | 10.8% | 19.4% | 0.44 | -1.7% |
| Real Estate (VNQ) | 3.8% | 18.8% | 0.10 | 13.3% |
| Bitcoin (BTCUSD) | 9.3% | 55.6% | 0.37 | 5.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MLTX | |
|---|---|---|---|---|
| MLTX | 4.3% | 89.4% | 0.70 | - |
| Sector ETF (XLV) | 9.8% | 16.5% | 0.48 | 11.1% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 13.2% |
| Gold (GLD) | 13.2% | 16.0% | 0.68 | 2.1% |
| Commodities (DBC) | 7.8% | 17.9% | 0.35 | -1.6% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 13.3% |
| Bitcoin (BTCUSD) | 67.3% | 66.9% | 1.06 | 4.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/11/2026 | 10.4% | 2.9% | |
| 2/23/2026 | -0.5% | -6.7% | -10.1% |
| 11/5/2025 | 4.5% | 16.0% | 47.1% |
| 8/10/2023 | 0.6% | 5.9% | -5.7% |
| SUMMARY STATS | |||
| # Positive | 3 | 3 | 1 |
| # Negative | 1 | 1 | 2 |
| Median Positive | 4.5% | 5.9% | 47.1% |
| Median Negative | -0.5% | -6.7% | -7.9% |
| Max Positive | 10.4% | 16.0% | 47.1% |
| Max Negative | -0.5% | -6.7% | -10.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/20/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/12/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bodenstedt, Matthias | Chief Financial Officer | Direct | Sell | 5132026 | 20.02 | 13,653 | 273,333 | 23,472,069 | Form |
| 2 | Bodenstedt, Matthias | Chief Financial Officer | Direct | Sell | 4162026 | 19.56 | 2,426 | 47,453 | 23,199,803 | Form |
| 3 | Santos, Da Silva Jorge | Chief Executive Officer | Direct | Sell | 4142026 | 18.23 | 51,873 | 945,645 | 53,320,799 | Form |
| 4 | Santos, Da Silva Jorge | Chief Executive Officer | Direct | Sell | 4142026 | 18.41 | 98,127 | 1,806,518 | 54,802,262 | Form |
| 5 | Bodenstedt, Matthias | Chief Financial Officer | Direct | Sell | 4102026 | 19.51 | 1,925 | 37,557 | 23,187,830 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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