Caitong International Asset Management Co. Ltd Cuts Holdings in MoonLake Immunotherapeutics $MLTX

Key Points

• Caitong International Asset Management sharply reduced its MoonLake Immunotherapeutics stake by 91.8% in the fourth quarter, leaving it with 6,950 shares worth about $92,000.
• Insider selling has been notable, including CEO Da Silva Jorge Santos and insider Kristian Reich, with 4 million shares sold by insiders over the last 90 days worth roughly $67.6 million.
• MoonLake shares were down 4.2% to $21.22, and the company recently reported a quarterly loss of $0.98 per share, missing analyst expectations of a $0.91 loss.

Caitong International Asset Management Co. Ltd lowered its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 91.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,950 shares of the company's stock after selling 77,603 shares during the period. Caitong International Asset Management Co. Ltd's holdings in MoonLake Immunotherapeutics were worth $92,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MLTX. Millennium Management LLC grew its position in shares of MoonLake Immunotherapeutics by 3,343.2% during the 1st quarter. Millennium Management LLC now owns 344,320 shares of the company's stock valued at $13,453,000 after acquiring an additional 334,320 shares during the period. Geode Capital Management LLC boosted its position 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 in the last quarter. JPMorgan Chase & Co. boosted its position in MoonLake Immunotherapeutics by 4,584.5% during the second quarter. JPMorgan Chase & Co. now owns 39,397 shares of the company's stock worth $1,860,000 after purchasing an additional 38,556 shares in the last quarter. Legal & General Group Plc grew its holdings in MoonLake Immunotherapeutics by 7.3% in the second quarter. Legal & General Group Plc now owns 20,905 shares of the company's stock valued at $987,000 after purchasing an additional 1,425 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in MoonLake Immunotherapeutics in the second quarter valued at approximately $593,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Da Silva Jorge Santos sold 51,873 shares of the business's stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $18.23, for a total transaction of $945,644.79. Following the completion of the sale, the chief executive officer directly owned 2,924,893 shares in the company, valued at approximately $53,320,799.39. The trade was a 1.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total value of $971,500.00. Following the completion of the transaction, the insider directly owned 2,824,551 shares of the company's stock, valued at approximately $54,881,025.93. This represents a 1.74% 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 ninety days, insiders sold 4,000,000 shares of company stock worth $67,630,663. 12.05% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on MLTX. 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. Rothschild & Co Redburn raised shares of MoonLake Immunotherapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $12.00 to $40.00 in a research note on Thursday, March 19th. Weiss Ratings reissued a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Needham & Company LLC boosted their price target on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Finally, Zacks Research upgraded shares of MoonLake Immunotherapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 24th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $23.85.

MoonLake Immunotherapeutics Trading Down 4.2%

MLTX stock opened at $21.22 on Wednesday. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -5.48 and a beta of 1.04. The business's 50-day moving average is $18.08 and its 200 day moving average is $16.78.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.07). On average, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -3.71 EPS for the current fiscal year.

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.

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