MoonLake Immunotherapeutics (NASDAQ:MLTX) Sees Large Growth in Short Interest

MoonLake Immunotherapeutics (NASDAQ:MLTX) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 7,182,036 shares, an increase of 24.3% from the December 31st total of 5,776,842 shares. Currently, 12.7% of the company’s stock are short sold. Based on an average daily volume of 5,630,446 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily volume of 5,630,446 shares, the days-to-cover ratio is presently 1.3 days. Currently, 12.7% of the company’s stock are short sold.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MLTX shares. Oppenheimer reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 6th. HC Wainwright restated a “buy” rating and issued a $32.00 price target (up previously from $26.00) on shares of MoonLake Immunotherapeutics in a research note on Friday, January 9th. Zacks Research downgraded MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. The Goldman Sachs Group downgraded MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and lifted their price objective for the stock from $8.00 to $10.00 in a report on Wednesday, January 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MoonLake Immunotherapeutics in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.77.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX traded up $0.12 during trading hours on Monday, hitting $15.79. The stock had a trading volume of 1,570,608 shares, compared to its average volume of 3,551,773. The firm has a market capitalization of $1.01 billion, a PE ratio of -4.76 and a beta of 1.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 8.50 and a quick ratio of 8.50. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75. The stock has a fifty day moving average price of $14.62 and a 200 day moving average price of $27.73.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Wednesday, November 5th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.21). During the same period last year, the firm earned ($0.56) earnings per share. Analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Insider Transactions at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 130,000 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 72,908 shares in the company, valued at $1,099,452.64. The trade was a 64.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Da Silva Jorge Santos sold 130,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 2,948,577 shares of the company’s stock, valued at approximately $44,464,541.16. This represents a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 402,908 shares of company stock worth $5,987,162. 12.05% of the stock is currently owned by company insiders.

Institutional Trading of MoonLake Immunotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLTX. Alliancebernstein L.P. raised its position in MoonLake Immunotherapeutics by 17.8% in the second quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock worth $53,715,000 after acquiring an additional 171,932 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter worth $6,922,000. Hood River Capital Management LLC raised its holdings in MoonLake Immunotherapeutics by 1.9% in the 2nd quarter. Hood River Capital Management LLC now owns 675,445 shares of the company’s stock worth $31,881,000 after purchasing an additional 12,462 shares during the period. Vestal Point Capital LP raised its holdings in MoonLake Immunotherapeutics by 175.0% in the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock worth $25,960,000 after purchasing an additional 350,000 shares during the period. Finally, Two Sigma Investments LP purchased a new position in MoonLake Immunotherapeutics during the third quarter valued at $3,257,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immunomodulatory therapies for autoimmune and inflammatory diseases. The company leverages a proprietary platform designed to selectively modulate key immune cell populations, aiming to restore immune balance and reduce tissue damage with targeted biologic candidates.

Its lead asset, MLTX101, is a recombinant immune cell modulator in clinical development for myositis, including inclusion body myositis and dermatomyositis.