Exome Asset Management LLC Purchases New Holdings in MoonLake Immunotherapeutics $MLTX

Exome Asset Management LLC acquired a new position in MoonLake Immunotherapeutics (NASDAQ:MLTX) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 215,376 shares of the company’s stock, valued at approximately $4,015,000. MoonLake Immunotherapeutics accounts for about 2.1% of Exome Asset Management LLC’s portfolio, making the stock its 13th largest holding.

Several other large investors have also recently bought and sold shares of the company. Millennium Management LLC boosted its position in MoonLake Immunotherapeutics by 3,343.2% in the 1st quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock valued at $13,453,000 after buying an additional 334,320 shares during the last quarter. Geode Capital Management LLC raised its position in shares of MoonLake Immunotherapeutics by 0.9% during the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after acquiring an additional 559 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of MoonLake Immunotherapeutics by 4,584.5% during the second quarter. JPMorgan Chase & Co. now owns 39,397 shares of the company’s stock valued at $1,860,000 after acquiring an additional 38,556 shares during the period. Legal & General Group Plc lifted its stake in shares of MoonLake Immunotherapeutics by 7.3% during the second quarter. Legal & General Group Plc now owns 20,905 shares of the company’s stock valued at $987,000 after acquiring an additional 1,425 shares during the period. Finally, WINTON GROUP Ltd bought a new position in MoonLake Immunotherapeutics in the second quarter valued at about $593,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Up 4.5%

NASDAQ:MLTX opened at $19.88 on Tuesday. 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 has a 12-month low of $5.95 and a 12-month high of $62.75. The stock’s fifty day simple moving average is $19.04 and its 200-day simple moving average is $17.76. The firm has a market capitalization of $1.46 billion, a P/E ratio of -5.14 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). Equities research analysts expect that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MLTX shares. Needham & Company LLC lifted their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Leerink Partners upped 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. BTIG Research reissued a “buy” rating and set a $30.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Finally, HC Wainwright restated a “buy” rating and issued a $45.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, July 20th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, MoonLake Immunotherapeutics currently has an average rating of “Hold” and an average target price of $24.21.

Insider Activity

In other news, CEO Da Silva Jorge Santos sold 68,289 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $20.02, for a total value of $1,367,145.78. Following the completion of the sale, the chief executive officer directly owned 2,774,893 shares of the company’s stock, valued at $55,553,357.86. This represents a 2.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00. Following the completion of the sale, the insider owned 2,824,551 shares in the company, valued at $54,881,025.93. This represents a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 250,000 shares of company stock valued at $4,919,138 over the last 90 days. Corporate insiders own 10.40% of the company’s stock.

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.