BIT Capital GmbH Sells 6,138 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Key Points

• BIT Capital GmbH has reduced its stake in MoonLake Immunotherapeutics by 29.6%, holding a total of 14,610 shares valued at approximately $571,000 as of the last quarter.
• Institutional investors own 93.85% of MoonLake Immunotherapeutics, with significant increases in holdings reported by firms such as FMR LLC and Paradigm Biocapital Advisors.
• MoonLake Immunotherapeutics reported an earnings per share of ($0.63), beating expectations, and currently has a market capitalization of $3.39 billion with a consensus rating of "Moderate Buy".

BIT Capital GmbH cut its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 29.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,610 shares of the company's stock after selling 6,138 shares during the quarter. BIT Capital GmbH's holdings in MoonLake Immunotherapeutics were worth $571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Deutsche Bank AG lifted its position in shares of MoonLake Immunotherapeutics by 59.8% during the fourth quarter. Deutsche Bank AG now owns 903 shares of the company's stock worth $49,000 after purchasing an additional 338 shares in the last quarter. US Bancorp DE lifted its holdings in MoonLake Immunotherapeutics by 114.4% in the first quarter. US Bancorp DE now owns 2,208 shares of the company's stock worth $86,000 after purchasing an additional 1,178 shares during the period. Birchview Capital LP acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter valued at about $217,000. Legato Capital Management LLC purchased a new stake in MoonLake Immunotherapeutics during the first quarter valued at about $240,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth approximately $244,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ:MLTX traded down $1.08 on Thursday, hitting $51.69. The company's stock had a trading volume of 136,398 shares, compared to its average volume of 484,055. The company has a 50-day simple moving average of $48.34 and a 200 day simple moving average of $43.06. The company has a market capitalization of $3.31 billion, a PE ratio of -18.60 and a beta of 1.27. MoonLake Immunotherapeutics has a 1 year low of $31.42 and a 1 year high of $58.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 21.11 and a quick ratio of 21.11.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same quarter last year, the firm posted ($0.39) EPS. Sell-side analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MLTX. Needham & Company LLC reissued a "buy" rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Redburn Atlantic upgraded MoonLake Immunotherapeutics to a "hold" rating in a research note on Monday, July 28th. The Goldman Sachs Group lifted their price objective on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the stock a "buy" rating in a research report on Wednesday. Wedbush reiterated an "outperform" rating and set a $80.00 price objective (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $67.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $74.43.

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.