MoonLake Immunotherapeutics $MLTX Shares Sold by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd lessened its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 91.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,950 shares of the company’s stock after selling 77,603 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in MoonLake Immunotherapeutics were worth $92,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new position in MoonLake Immunotherapeutics in the 4th quarter worth approximately $26,000. FNY Investment Advisers LLC acquired a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter worth approximately $28,000. Bank of America Corp DE grew its position in shares of 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew 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 purchasing an additional 3,166 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings 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 purchasing an additional 1,069 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MLTX. HC Wainwright reiterated a “buy” rating and set a $45.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday, June 8th. Royal Bank Of Canada upped their target price on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Oppenheimer raised their target price on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Zacks Research upgraded MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, BTIG Research reissued a “buy” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Nine equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, MoonLake Immunotherapeutics has an average rating of “Hold” and a consensus price target of $23.85.

Insiders Place Their Bets

In other news, CEO Da Silva Jorge Santos sold 51,873 shares of the company’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $18.23, for a total value of $945,644.79. Following the transaction, the chief executive officer owned 2,924,893 shares of the company’s stock, valued at $53,320,799.39. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bvf Partners L. P/Il sold 3,750,000 shares of the stock in a transaction 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 transaction, the director owned 1,039,238 shares of the company’s stock, valued at approximately $17,448,806.02. This represents a 78.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,000,000 shares of company stock valued at $67,630,663 over the last quarter. 12.05% of the stock is owned by insiders.

MoonLake Immunotherapeutics Stock Down 4.2%

Shares of NASDAQ MLTX opened at $21.22 on Wednesday. The company has a 50 day simple moving average of $18.08 and a 200-day simple moving average of $16.78. The company has a market capitalization of $1.56 billion, a P/E ratio of -5.48 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60. MoonLake Immunotherapeutics has a 1 year low of $5.95 and a 1 year high of $62.75.

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

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.