MLTX Healthcare

MoonLake Immunotherapeutics

$11.70+2.01%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Healthcare
Industry: Biotechnology
Country: Switzerland
Market cap: 995.7M USD
Enterprise value: 375.3M USD
Full-time employees: 130

Overall health

Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.03 vs a peer median of 0.63)bigger price swings (beta 1.03 vs peers 0.63)
Not enough data: growth

Would rank #903 of 1,157 fully scored healthcare companies (bottom 23%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, MoonLake Immunotherapeutics looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Not profitable yet. Reported a loss in the 12 months to June 2026.
MoonLake Immunotherapeutics reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

StockQuotient Score

35/ 100

Oct 5 35 → Nov 4 35

Valuation

Is the price right?

8/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Share count up 15.6% (existing holders diluted)

Valuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-26.5%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0148 · MAD: 0.0148

EBITDA yield-47.6%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.00Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield-22.6%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield43.0%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

Insufficient data

Insufficient data: 0 of 3 inputs reported (at least 2 needed). We leave it blank rather than fill the gap with a made-up middle value.

Profitability

Does it earn well?

9/100

Weak

2/3 inputs reported · Partial data

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROIC
▼ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating marginUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0706 · MAD: 0.1217

Return on assets-45.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -8.87Sector median: 0.0166 · MAD: 0.0537

Return on invested capital-425.6%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -16.87Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin0.0%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity-61.6%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.03

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.21Sector median: 0.6250 · MAD: 0.3380

Current ratio12.56×

SEC filings · latest balance sheetReported value33% base weight · Z-score 7.20Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.23×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.05Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about MoonLake Immunotherapeutics

Is MoonLake Immunotherapeutics getting weaker?: Its latest SEC filing (Aug 10, 2026) got weaker in some ways: share count up 15.6%. Its overall score is unchanged at 35/100 since Oct 28, 2026.
How is MoonLake Immunotherapeutics valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,393 healthcare peers. Earnings yield -26.5% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -26.5% vs peers 1.5% (weaker than 100% of peers).
Is MoonLake Immunotherapeutics growing?: Insufficient data: 0 of 3 inputs reported (at least 2 needed).
How profitable is MoonLake Immunotherapeutics?: Less profitable than most of its peers. Profitability scores 9/100 against 1,393 healthcare peers. Return on invested capital -425.6% vs a peer median of 4.7% (weaker than 100% of peers).Return on invested capital -425.6% vs peers 4.7% (weaker than 100% of peers).
How risky is MoonLake Immunotherapeutics?: Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 12.56× vs a peer median of 2.59× (stronger than 91% of peers).Current ratio 12.56× vs peers 2.59× (stronger than 91% of peers). Beta 1.03 vs a peer median of 0.63 (weaker than 73% of peers).Beta 1.03 vs peers 0.63 (weaker than 73% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 10, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

Share count up 15.6% (existing holders diluted)

Worth watching: MoonLake Immunotherapeutics is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Net income (12 months)	−257.1M USD	−263.7M USD	+2.6%
Free cash flow (12 months)	−224.2M USD	−225.2M USD	+0.5%
Debt	99.0M USD	99.5M USD	+0.5%
Cash	298.5M USD	477.9M USD	+60.1%
Shares outstanding	73.6M	85.1M	+15.6%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Return on assets (ROA)	-46.9%	-65.0%	-6.8%	-24.9%	-53.6%	▼ 29 pts
Return on equity (ROE)	—	-102.2%	-7.3%	-26.6%	-74.7%	▼ 48 pts
Current ratio	0.46×	9.98×	51.59×	21.11×	9.27×	▼ 56%
Debt to equity	—	0.00×	—	0.00×	0.24×	—
Interest coverage	—	—	—	—	-33.78×	—

MLTX price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.03 vs a peer median of 0.63)bigger price swings (beta 1.03 vs peers 0.63)

Not enough data: growth

Would rank #903 of 1,157 fully scored healthcare companies (bottom 23%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, MoonLake Immunotherapeutics looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Not profitable yet. Reported a loss in the 12 months to June 2026.

MoonLake Immunotherapeutics reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Questions investors ask about MoonLake Immunotherapeutics

Is MoonLake Immunotherapeutics getting weaker?

Its latest SEC filing (Aug 10, 2026) got weaker in some ways: share count up 15.6%. Its overall score is unchanged at 35/100 since Oct 28, 2026.

How is MoonLake Immunotherapeutics valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,393 healthcare peers. Earnings yield -26.5% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -26.5% vs peers 1.5% (weaker than 100% of peers).

Is MoonLake Immunotherapeutics growing?

Insufficient data: 0 of 3 inputs reported (at least 2 needed).

How profitable is MoonLake Immunotherapeutics?

Less profitable than most of its peers. Profitability scores 9/100 against 1,393 healthcare peers. Return on invested capital -425.6% vs a peer median of 4.7% (weaker than 100% of peers).Return on invested capital -425.6% vs peers 4.7% (weaker than 100% of peers).

How risky is MoonLake Immunotherapeutics?

Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 12.56× vs a peer median of 2.59× (stronger than 91% of peers).Current ratio 12.56× vs peers 2.59× (stronger than 91% of peers). Beta 1.03 vs a peer median of 0.63 (weaker than 73% of peers).Beta 1.03 vs peers 0.63 (weaker than 73% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Net income (12 months)

−257.1M USD

−263.7M USD

+2.6%

Free cash flow (12 months)

−224.2M USD

−225.2M USD

+0.5%

Debt

99.0M USD

99.5M USD

+0.5%

Cash

298.5M USD

477.9M USD

+60.1%

Shares outstanding

73.6M

85.1M

+15.6%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Return on assets (ROA)

-46.9%

-65.0%

-6.8%

-24.9%

-53.6%

▼ 29 pts

Return on equity (ROE)

—

-102.2%

-7.3%

-26.6%

-74.7%

▼ 48 pts

Current ratio

0.46×

9.98×

51.59×

21.11×

9.27×

▼ 56%

Debt to equity

—

0.00×

—

0.00×

0.24×

—

Interest coverage

—

-33.78×

—