Caitong International Asset Management Co. Ltd Cuts Stake in MoonLake Immunotherapeutics $MLTX

Caitong International Asset Management Co. Ltd lowered its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 91.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,095 shares of the company’s stock after selling 77,458 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in MoonLake Immunotherapeutics were worth $94,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $28,000. Bank of America Corp DE increased its holdings in shares of MoonLake Immunotherapeutics by 64.7% in the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after acquiring an additional 1,781 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of MoonLake Immunotherapeutics by 115.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock valued at $42,000 after acquiring an additional 3,166 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of MoonLake Immunotherapeutics by 18.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock valued at $52,000 after acquiring an additional 1,158 shares during the period. Finally, Quarry LP increased its holdings in shares of MoonLake Immunotherapeutics by 400.1% in the 3rd quarter. Quarry LP now owns 9,001 shares of the company’s stock valued at $65,000 after acquiring an additional 7,201 shares during the period. Hedge funds and other institutional investors own 93.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Bvf Partners L. P/Il sold 3,750,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total value of $62,962,500.00. Following the sale, the director owned 1,039,238 shares in the company, valued at $17,448,806.02. This represents a 78.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Da Silva Jorge Santos sold 51,873 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $18.23, for a total value of $945,644.79. Following the completion of the sale, the chief executive officer owned 2,924,893 shares in the company, valued at approximately $53,320,799.39. This represents a 1.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,900,000 shares of company stock worth $65,714,663. 12.02% of the stock is owned by insiders.

MoonLake Immunotherapeutics Stock Up 5.3%

NASDAQ:MLTX opened at $18.69 on Friday. The company has a market cap of $1.38 billion, a PE ratio of -4.83 and a beta of 1.04. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. The company’s 50 day moving average is $17.79 and its two-hundred day moving average is $16.44.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). Analysts anticipate that MoonLake Immunotherapeutics will post -3.71 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $45.00 price target on shares of MoonLake Immunotherapeutics in a report on Monday, June 8th. Oppenheimer lifted their price target on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Needham & Company LLC lifted their price target on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. BTIG Research reiterated a “buy” rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday. Finally, Zacks Research upgraded MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $23.85.

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.