187,600 Shares in MoonLake Immunotherapeutics $MLTX Purchased by Eagle Health Investments LP

Key Points

• Eagle Health Investments LP opened a new position in MoonLake Immunotherapeutics, buying 187,600 shares worth about $2.47 million in the fourth quarter. The stake represented 0.29% of MLTX and was the fund’s 26th largest holding.
• Insider selling has been significant, including a 3.75 million-share sale by director Bvf Partners L.P./Il and a 98,127-share sale by CEO Da Silva Jorge Santos. Over the last three months, insiders sold 3.9 million shares valued at about $65.7 million.
• MoonLake reported a smaller-than-expected loss for the latest quarter, posting EPS of -$0.98 versus an estimate of -$0.91. Analysts currently have a mixed view, with a consensus rating of Hold and an average price target of $23.85.

Eagle Health Investments LP purchased a new position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 187,600 shares of the company's stock, valued at approximately $2,473,000. MoonLake Immunotherapeutics makes up approximately 0.5% of Eagle Health Investments LP's holdings, making the stock its 26th largest position. Eagle Health Investments LP owned 0.29% of MoonLake Immunotherapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in MoonLake Immunotherapeutics during the 3rd quarter worth about $28,000. Bank of America Corp DE lifted 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. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in MoonLake Immunotherapeutics by 115.0% during the 3rd 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 during the period. Covestor Ltd acquired a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at approximately $46,000. Finally, BNP Paribas Financial Markets raised its position in shares of MoonLake Immunotherapeutics by 18.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company's stock valued at $52,000 after acquiring an additional 1,158 shares during the period. Institutional investors and hedge funds own 93.85% of the company's stock.

Insider Buying and Selling at MoonLake Immunotherapeutics

In related news, Director Bvf Partners L. P/Il sold 3,750,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the director directly owned 1,039,238 shares of the company's stock, valued at approximately $17,448,806.02. This trade represents a 78.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Da Silva Jorge Santos sold 98,127 shares of the firm's stock in a transaction on Friday, April 10th. The shares were sold at an average price of $18.41, for a total transaction of $1,806,518.07. Following the completion of the transaction, the chief executive officer directly owned 2,976,766 shares of the company's stock, valued at $54,802,262.06. This represents a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,900,000 shares of company stock valued at $65,714,663 over the last three months. 12.02% of the stock is owned by company insiders.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $17.05 on Thursday. The stock has a market capitalization of $1.22 billion, a P/E ratio of -4.41 and a beta of 1.01. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The company has a 50 day moving average of $17.41 and a 200-day moving average of $15.70. 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 (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.07). As a group, equities research analysts forecast that MoonLake Immunotherapeutics will post -3.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MLTX has been the topic of a number of analyst reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics from a "neutral" rating to a "buy" rating and increased their price target for the company from $12.00 to $40.00 in a research report on Thursday, March 19th. Zacks Research upgraded shares of MoonLake Immunotherapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 24th. Royal Bank Of Canada increased their price target on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a "sector perform" rating in a research report on Monday, March 2nd. Finally, HC Wainwright increased their price target on shares of MoonLake Immunotherapeutics from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, MoonLake Immunotherapeutics currently has an average rating of "Hold" and an average target price of $23.85.

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.

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