Bank of America Corp DE boosted its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 5,255.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 724,794 shares of the company's stock after buying an additional 711,261 shares during the quarter. Bank of America Corp DE owned approximately 1.01% of MoonLake Immunotherapeutics worth $13,510,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC lifted its stake in MoonLake Immunotherapeutics by 0.9% during the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company's stock worth $2,809,000 after purchasing an additional 559 shares during the period. Squarepoint Ops LLC lifted its position in shares of MoonLake Immunotherapeutics by 3.7% during the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company's stock worth $829,000 after purchasing an additional 629 shares in the last quarter. Axiom Investors LLC DE grew its stake in shares of MoonLake Immunotherapeutics by 3.2% during the fourth quarter. Axiom Investors LLC DE now owns 25,998 shares of the company's stock valued at $343,000 after purchasing an additional 818 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company's stock valued at $45,000 after purchasing an additional 1,069 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of MoonLake Immunotherapeutics by 18.9% in the third quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company's stock valued at $52,000 after purchasing an additional 1,158 shares in the last quarter. Institutional investors and hedge funds own 93.85% of the company's stock.
Wall Street Analyst Weigh In
MLTX has been the subject of several analyst reports. BTIG Research restated a "buy" rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Needham & Company LLC lifted their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. HC Wainwright increased their price objective on MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a research note on Friday, August 7th. Finally, Leerink Partners increased their target price on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of "Hold" and a consensus target price of $24.57.
Read Our Latest Report on MLTX
Insider Buying and Selling at MoonLake Immunotherapeutics
In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 68,289 shares of the company's stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the completion of the sale, the chief executive officer directly owned 2,774,893 shares in the company, valued at $55,553,357.86. This represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00. Following the sale, the insider directly owned 2,824,551 shares in the company, valued at $54,881,025.93. The trade was a 1.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 344,800 shares of company stock valued at $6,820,071 over the last quarter. 10.40% of the stock is owned by company insiders.
MoonLake Immunotherapeutics Stock Performance
Shares of MLTX opened at $15.76 on Friday. The stock has a 50 day moving average of $18.73 and a 200 day moving average of $17.90. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -4.10 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 company has a current ratio of 12.56, a quick ratio of 12.56 and a debt-to-equity ratio of 0.23.
MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.84) earnings per share for the quarter, topping analysts' consensus estimates of ($0.91) by $0.07. As a group, sell-side analysts forecast that MoonLake Immunotherapeutics will post -3.34 earnings per share for the current year.
MoonLake Immunotherapeutics Company Profile
(
Free Report)
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.
Further Reading
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