Avidity Partners Management LP acquired a new position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 50,000 shares of the company’s stock, valued at approximately $932,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter worth approximately $26,000. Bank of America Corp DE lifted its position in MoonLake Immunotherapeutics by 64.7% in the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock worth $32,000 after buying an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of MoonLake Immunotherapeutics by 115.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock valued at $42,000 after buying an additional 3,166 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of MoonLake Immunotherapeutics by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after buying an additional 1,069 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.
MoonLake Immunotherapeutics Stock Performance
Shares of MLTX opened at $18.44 on Friday. The company’s fifty day moving average is $19.12 and its 200-day moving average is $17.85. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -4.76 and a beta of 1.04. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39.
Analysts Set New Price Targets
MLTX has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday, July 20th. Needham & Company LLC lifted their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 12th. Leerink Partners raised their price target on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Finally, BTIG Research reiterated a “buy” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.21.
Get Our Latest Stock Analysis on MLTX
Insider Activity
In related news, CEO Da Silva Jorge Santos sold 68,289 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the transaction, the chief executive officer owned 2,774,893 shares of the company’s stock, valued at approximately $55,553,357.86. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00. Following the completion of the sale, the insider owned 2,824,551 shares of the company’s stock, valued at approximately $54,881,025.93. The trade was a 1.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 344,800 shares of company stock valued at $6,820,071 in the last three months. 10.40% of the stock is owned by insiders.
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.
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