111,590 Shares in MoonLake Immunotherapeutics $MLTX Purchased by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP acquired 111,590 MoonLake Immunotherapeutics shares worth approximately $2.17 million, while institutional investors collectively own 93.85% of MLTX.
• MoonLake reported quarterly EPS of -$0.84, beating the consensus estimate of -$0.91. Shares opened at $12.68, compared with a 52-week range of $5.95 to $62.75.
• Analyst opinions remain mixed: the stock has a consensus “Hold” rating and a $24.57 target price, while company insiders sold 294,800 shares worth $5.88 million over the past 90 days.

Engineers Gate Manager LP acquired a new stake in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 111,590 shares of the company's stock, valued at approximately $2,173,000. Engineers Gate Manager LP owned 0.13% of MoonLake Immunotherapeutics as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MLTX. Integrated Wealth Concepts LLC acquired a new position in MoonLake Immunotherapeutics during the 2nd quarter worth approximately $39,000. Allworth Financial LP boosted its stake in shares of MoonLake Immunotherapeutics by 156.2% in the second quarter. Allworth Financial LP now owns 1,714 shares of the company's stock valued at $33,000 after buying an additional 1,045 shares in the last quarter. Arizona State Retirement System purchased a new stake in shares of MoonLake Immunotherapeutics in the second quarter valued at approximately $233,000. California State Teachers Retirement System grew its holdings in MoonLake Immunotherapeutics by 2,414.8% during the second quarter. California State Teachers Retirement System now owns 736,725 shares of the company's stock worth $14,344,000 after acquiring an additional 707,429 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in MoonLake Immunotherapeutics in the second quarter worth $58,000. Hedge funds and other institutional investors own 93.85% of the company's stock.

Insider Activity

In other MoonLake Immunotherapeutics news, CEO Silva Santos sold 68,289 shares of MoonLake Immunotherapeutics 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 owned 2,774,893 shares in the company, valued at $55,553,357.86. The trade was a 2.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the company's stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the transaction, the insider directly owned 2,714,746 shares of the company's stock, valued at approximately $54,349,214.92. This represents a 1.81% decrease in their position. 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 sold a total of 294,800 shares of company stock valued at $5,875,571 in the last 90 days. 10.40% of the stock is owned by company insiders.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ:MLTX opened at $12.68 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 12.56 and a current ratio of 12.56. The stock has a market cap of $1.08 billion, a PE ratio of -3.30 and a beta of 1.04. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The business's fifty day moving average price is $17.14 and its two-hundred day moving average price is $17.70.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($0.91) by $0.07. On average, analysts forecast that MoonLake Immunotherapeutics will post -3.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on MLTX shares. BTIG Research reissued a "buy" rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 21st. HC Wainwright boosted their price objective on shares of MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Finally, Leerink Partners increased their target price on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $24.57.

MoonLake Immunotherapeutics Profile

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for inflammatory and immunologic diseases. The company's approach is based on Nanobody technology, which is designed to create targeted therapies with potential advantages in tissue penetration and biological activity.

MoonLake's lead product candidate is sonelokimab, a trivalent Nanobody designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.

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