TD Asset Management Inc Lowers Holdings in MoonLake Immunotherapeutics $MLTX

TD Asset Management Inc lowered its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 42.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,610 shares of the company’s stock after selling 79,542 shares during the period. TD Asset Management Inc owned approximately 0.17% of MoonLake Immunotherapeutics worth $764,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC purchased a new position in MoonLake Immunotherapeutics in the 2nd quarter valued at approximately $74,000. Covestor Ltd purchased a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth $46,000. WINTON GROUP Ltd acquired a new stake in shares of MoonLake Immunotherapeutics in the second quarter valued at $593,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of MoonLake Immunotherapeutics by 13.1% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,752 shares of the company’s stock valued at $743,000 after acquiring an additional 1,819 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in MoonLake Immunotherapeutics in the third quarter valued at $126,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Price Performance

MLTX stock opened at $18.08 on Friday. The business has a 50 day moving average price of $16.05 and a 200 day moving average price of $22.00. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -5.14 and a beta of 1.20. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.92) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.92). During the same quarter last year, the firm posted ($0.72) EPS. Equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kristian Reich sold 130,000 shares of the business’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 completion of the sale, the insider directly owned 72,908 shares of the company’s stock, valued at $1,099,452.64. The trade was a 64.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Da Silva Jorge Santos sold 130,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $15.08, for a total transaction of $1,960,400.00. Following the completion of the transaction, the chief executive officer owned 2,948,577 shares of the company’s stock, valued at $44,464,541.16. This represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 402,908 shares of company stock worth $5,987,162 over the last ninety days. Insiders own 12.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MLTX. Zacks Research upgraded MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Royal Bank Of Canada boosted their price objective on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. BTIG Research raised their target price on shares of MoonLake Immunotherapeutics from $24.00 to $30.00 and gave the company a “buy” rating in a report on Monday, February 23rd. HC Wainwright boosted their price target on shares of MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Finally, Oppenheimer raised their price objective on shares of MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.85.

About MoonLake Immunotherapeutics

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.