Bvf Partners P/Il Sells 3,750,000 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) Director Bvf Partners P/Il sold 3,750,000 shares of the firm’s stock in a transaction dated 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 sale, the director 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

MoonLake Immunotherapeutics Stock Up 5.1%

MoonLake Immunotherapeutics stock traded up $0.84 during midday trading on Thursday, hitting $17.36. 1,686,263 shares of the company were exchanged, compared to its average volume of 2,008,499. The company has a market cap of $1.25 billion, a PE ratio of -4.93 and a beta of 1.19. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. The company’s fifty day moving average price is $16.91 and its 200-day moving average price is $16.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.27 and a quick ratio of 9.27.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.92) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.92). During the same quarter last year, the company posted ($0.72) earnings per share. On average, research analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MLTX has been the topic of several analyst reports. Needham & Company LLC lifted their price target on shares of MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. BTIG Research restated a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday. Oppenheimer lifted their target price on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Zacks Research upgraded MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Royal Bank Of Canada increased their price target on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.08.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently modified their holdings of MLTX. Kestra Advisory Services LLC bought a new position in shares of MoonLake Immunotherapeutics during the fourth quarter valued at approximately $26,000. Russell Investments Group Ltd. raised its position in shares of MoonLake Immunotherapeutics by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after purchasing an additional 1,069 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter worth approximately $47,000. FNY Investment Advisers LLC acquired a new position in MoonLake Immunotherapeutics during the 3rd quarter valued at approximately $28,000. Finally, Bank of America Corp DE boosted its position in MoonLake Immunotherapeutics by 64.7% during the 3rd 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. Institutional investors and hedge funds own 93.85% 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.