The Manufacturers Life Insurance Company increased its position in MoonLake Immunotherapeutics (NASDAQ:MLTX – Free Report) by 39.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,961 shares of the company’s stock after acquiring an additional 33,391 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.17% of MoonLake Immunotherapeutics worth $2,217,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Cormorant Asset Management LP boosted its position in MoonLake Immunotherapeutics by 118.4% during the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after purchasing an additional 2,361,260 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of MoonLake Immunotherapeutics by 18,782.8% in the fourth quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock valued at $27,657,000 after buying an additional 2,084,888 shares in the last quarter. Logos Global Management LP purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at $23,065,000. Weiss Asset Management LP raised its stake in shares of MoonLake Immunotherapeutics by 413.1% during the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock worth $31,843,000 after buying an additional 1,375,367 shares during the last quarter. Finally, Vivo Capital LLC acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter worth $13,180,000. 93.85% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on MLTX. HC Wainwright reissued a “buy” rating and issued a $45.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, July 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Leerink Partners increased their price target on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. BTIG Research reissued a “buy” rating and set a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Finally, Needham & Company LLC lifted their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $24.21.
Insider Buying and Selling
In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 68,289 shares of the stock in a transaction on Friday, July 10th. The stock was 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 $55,553,357.86. This represents a 2.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total value of $1,001,000.00. Following the sale, the insider owned 2,714,746 shares in the company, valued at $54,349,214.92. This trade represents a 1.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 344,800 shares of company stock worth $6,820,071. 10.40% of the stock is owned by company insiders.
MoonLake Immunotherapeutics Stock Performance
MoonLake Immunotherapeutics stock opened at $18.26 on Monday. The stock has a 50-day moving average price of $19.05 and a 200 day moving average price of $17.88. MoonLake Immunotherapeutics has a 52 week low of $5.95 and a 52 week high of $62.75. The stock has a market cap of $1.34 billion, a PE ratio of -4.72 and a beta of 1.06. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39.
MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.07). Equities research analysts predict that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current fiscal year.
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.
Featured Stories
- Five stocks we like better than MoonLake Immunotherapeutics
- Albemarle’s Blowout Quarter Shows Why Lithium Still Matters
- Can DICK’S Turn Foot Locker Into a Winner?
- Why Dutch Bros Plunged Despite a Q2 Earnings Beat and Record Revenue
- Take-Two’s Q1 Results Leave GTA 6 Bulls Stuck in the Fog of War
Receive News & Ratings for MoonLake Immunotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MoonLake Immunotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
