MoonLake Immunotherapeutics $MLTX Shares Bought by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB boosted its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 75.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 364,000 shares of the company’s stock after acquiring an additional 157,000 shares during the period. Rhenman & Partners Asset Management AB owned about 0.57% of MoonLake Immunotherapeutics worth $4,798,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLTX. FNY Investment Advisers LLC acquired a new position in MoonLake Immunotherapeutics during the third quarter worth about $28,000. Bank of America Corp DE raised its position in MoonLake Immunotherapeutics by 64.7% during the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock worth $32,000 after acquiring an additional 1,781 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MoonLake Immunotherapeutics by 115.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock worth $42,000 after acquiring an additional 3,166 shares during the last quarter. BNP Paribas Financial Markets raised its position in MoonLake Immunotherapeutics by 18.9% during the third quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock worth $52,000 after acquiring an additional 1,158 shares during the last quarter. Finally, Quarry LP raised its position in MoonLake Immunotherapeutics by 400.1% during the third quarter. Quarry LP now owns 9,001 shares of the company’s stock worth $65,000 after acquiring an additional 7,201 shares during the last quarter. Institutional investors and hedge funds 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 business’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $16.79, for a total value of $62,962,500.00. Following the completion of the sale, the director directly owned 1,039,238 shares in the company, valued at approximately $17,448,806.02. The trade was a 78.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Da Silva Jorge Santos sold 51,873 shares of the business’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 transaction of $945,644.79. Following the completion of the sale, the chief executive officer owned 2,924,893 shares of the company’s stock, valued at approximately $53,320,799.39. The trade was a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 3,900,000 shares of company stock valued at $65,714,663. 12.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC boosted their price objective on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Oppenheimer boosted their price objective on shares of MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Wolfe Research raised shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and boosted their price objective for the company from $12.00 to $24.00 in a research report on Monday, March 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Finally, Rothschild & Co Redburn raised shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $12.00 to $40.00 in a research report on Thursday, March 19th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.85.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $18.69 on Friday. The firm has a 50 day simple moving average of $17.79 and a 200-day simple moving average of $16.44. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60. The firm has a market cap of $1.38 billion, a PE ratio of -4.83 and a beta of 1.04. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). On average, equities analysts expect that MoonLake Immunotherapeutics will post -3.71 EPS for the current 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.