Principal Financial Group Inc. Takes $509,000 Position in MoonLake Immunotherapeutics $MLTX

Principal Financial Group Inc. acquired a new position in MoonLake Immunotherapeutics (NASDAQ:MLTX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 70,943 shares of the company’s stock, valued at approximately $509,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Covestor Ltd acquired a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at about $46,000. Elevation Point Wealth Partners LLC purchased a new position in MoonLake Immunotherapeutics during the second quarter valued at approximately $74,000. SG Americas Securities LLC acquired a new position in MoonLake Immunotherapeutics in the 3rd quarter valued at approximately $126,000. WINTON GROUP Ltd purchased a new stake in MoonLake Immunotherapeutics in the 2nd quarter worth approximately $593,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in MoonLake Immunotherapeutics by 13.1% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,752 shares of the company’s stock worth $743,000 after buying an additional 1,819 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 130,000 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $15.08, for a total value of $1,960,400.00. Following the sale, the insider directly owned 72,908 shares in the company, valued at $1,099,452.64. This trade represents a 64.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Da Silva Jorge Santos sold 130,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $15.08, for a total value of $1,960,400.00. Following the transaction, the chief executive officer owned 2,948,577 shares in the company, valued at $44,464,541.16. This represents a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 402,908 shares of company stock worth $5,987,162. Company insiders own 12.02% of the company’s stock.

MoonLake Immunotherapeutics Stock Down 1.5%

MoonLake Immunotherapeutics stock opened at $18.17 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 8.50 and a quick ratio of 8.50. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. The firm has a fifty day moving average price of $15.16 and a two-hundred day moving average price of $24.73. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -5.47 and a beta of 1.21.

Analyst Ratings Changes

Several research firms have recently commented on MLTX. Citigroup cut shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a report on Wednesday, October 29th. HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, February 3rd. UBS Group set a $24.00 target price on MoonLake Immunotherapeutics in a research report on Friday, January 9th. The Goldman Sachs Group lowered MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and lifted their price target for the company from $8.00 to $10.00 in a report on Wednesday, January 14th. Finally, Zacks Research cut MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.77.

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.