Arrowstreet Capital Limited Partnership Acquires New Shares in MoonLake Immunotherapeutics $MLTX

Key Points

• Arrowstreet Capital acquired 70,140 MoonLake Immunotherapeutics shares worth approximately $1.3 million, while institutional investors collectively own 93.85% of MLTX.
• MLTX shares opened at $17.55, down 2.1%, after the company reported a quarterly loss of $0.98 per share—worse than the $0.91 consensus estimate.
• Analyst sentiment is mixed but leans positive, with a consensus “Hold” rating and an average price target of $24.21; insiders sold 344,800 shares worth about $6.8 million over the past quarter.

Arrowstreet Capital Limited Partnership bought a new stake in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 70,140 shares of the company's stock, valued at approximately $1,307,000. Arrowstreet Capital Limited Partnership owned about 0.10% of MoonLake Immunotherapeutics as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MLTX. Candriam S.C.A. boosted its stake in shares of MoonLake Immunotherapeutics by 509.0% in the 1st quarter. Candriam S.C.A. now owns 818,126 shares of the company's stock valued at $15,250,000 after purchasing an additional 683,797 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in MoonLake Immunotherapeutics by 32.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 127,087 shares of the company's stock worth $2,369,000 after purchasing an additional 31,115 shares in the last quarter. Hsbc Holdings PLC acquired a new position in MoonLake Immunotherapeutics during the 4th quarter worth approximately $147,000. Virtu Financial LLC bought a new position in MoonLake Immunotherapeutics in the 4th quarter valued at approximately $166,000. Finally, T. Rowe Price Investment Management Inc. bought a new position in MoonLake Immunotherapeutics in the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 93.85% of the company's stock.

MoonLake Immunotherapeutics Stock Down 2.1%

Shares of NASDAQ:MLTX opened at $17.55 on Thursday. The firm has a market cap of $1.29 billion, a P/E ratio of -4.53 and a beta of 1.06. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The business has a fifty day simple moving average of $19.09 and a 200 day simple moving average of $17.86. 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). Analysts predict that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current year.

Insider Transactions at MoonLake Immunotherapeutics

In related 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 transaction of $1,367,145.78. Following the sale, the chief executive officer owned 2,774,893 shares in the company, valued at $55,553,357.86. This represents a 2.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $20.02, for a total value of $1,001,000.00. Following the completion of the transaction, the insider directly owned 2,714,746 shares in the company, valued at approximately $54,349,214.92. This trade represents a 1.81% 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. Over the last quarter, insiders have sold 344,800 shares of company stock valued at $6,820,071. Company insiders own 10.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BTIG Research reaffirmed a "buy" rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 9th. Leerink Partners raised their price objective on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. Needham & Company LLC boosted 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. Weiss Ratings restated a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $45.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday, July 20th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $24.21.

MoonLake Immunotherapeutics Company 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.

Want to see what other hedge funds are holding MLTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source