MoonLake Immunotherapeutics $MLTX Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 32.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,087 shares of the company’s stock after buying an additional 31,115 shares during the period. Y Intercept Hong Kong Ltd owned about 0.18% of MoonLake Immunotherapeutics worth $2,369,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Kestra Advisory Services LLC purchased a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at about $26,000. FNY Investment Advisers LLC acquired a new stake in MoonLake Immunotherapeutics in the third quarter valued at approximately $28,000. Bank of America Corp DE grew its holdings in MoonLake Immunotherapeutics by 64.7% in the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after purchasing an additional 1,781 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MoonLake Immunotherapeutics by 115.0% in the third 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 in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of MoonLake Immunotherapeutics by 45.4% in the fourth 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 in the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MLTX shares. HC Wainwright reiterated a “buy” rating and set a $45.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, June 8th. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and upped their price objective for the stock from $12.00 to $24.00 in a research report on Monday, March 23rd. BTIG Research reaffirmed a “buy” rating and set a $30.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Leerink Partners lifted their target price 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. Finally, Needham & Company LLC boosted their target price on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.21.

MoonLake Immunotherapeutics Trading Down 0.4%

Shares of MLTX opened at $19.07 on Thursday. 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 $1.40 billion, a PE ratio of -4.93 and a beta of 1.04. The firm’s fifty day moving average is $18.45 and its two-hundred day moving average is $17.16. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39.

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). Research analysts forecast that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current fiscal year.

Insider Transactions at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, 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 value of $971,500.00. Following the completion of the sale, the insider owned 2,824,551 shares in the company, valued at approximately $54,881,025.93. This represents a 1.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Da Silva Jorge Santos sold 47,775 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $20.03, for a total transaction of $956,933.25. Following the completion of the transaction, the chief executive officer directly owned 2,877,118 shares in the company, valued at $57,628,673.54. This trade represents a 1.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 297,775 shares of company stock valued at $5,625,096. 12.02% of the stock is owned by insiders.

MoonLake Immunotherapeutics 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.