Candriam S.C.A. Sells 52,956 Shares of MoonLake Immunotherapeutics $MLTX

Key Points

• Candriam S.C.A. reduced its stake in MoonLake Immunotherapeutics by 23.3%, selling 52,956 shares during the first quarter, leaving it with 174,520 shares valued at approximately $6.82 million.
• Several institutional investors, including Paradigm Biocapital Advisors and Polar Capital Holdings, increased their holdings significantly in MoonLake, indicating a strong interest from large investors.
• MoonLake reported a (0.87) EPS in its last quarterly earnings, missing analysts' expectations, with forecasts suggesting a (1.79) EPS for the current year.

Candriam S.C.A. lowered its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 23.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 174,520 shares of the company's stock after selling 52,956 shares during the period. Candriam S.C.A. owned 0.27% of MoonLake Immunotherapeutics worth $6,818,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MLTX. Paradigm Biocapital Advisors LP boosted its holdings in MoonLake Immunotherapeutics by 90.3% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company's stock worth $95,965,000 after acquiring an additional 840,731 shares in the last quarter. Nuveen LLC bought a new position in MoonLake Immunotherapeutics in the first quarter worth approximately $26,308,000. Polar Capital Holdings Plc boosted its holdings in MoonLake Immunotherapeutics by 120.0% in the fourth quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company's stock worth $59,565,000 after acquiring an additional 600,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in MoonLake Immunotherapeutics by 12.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company's stock worth $181,059,000 after acquiring an additional 363,394 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in MoonLake Immunotherapeutics by 9.4% in the first quarter. Westfield Capital Management Co. LP now owns 1,434,770 shares of the company's stock worth $56,056,000 after acquiring an additional 123,151 shares in the last quarter. Institutional investors own 93.85% of the company's stock.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX opened at $54.17 on Friday. The company has a current ratio of 16.65, a quick ratio of 16.65 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -19.49 and a beta of 1.27. The stock has a 50 day moving average of $50.28 and a 200 day moving average of $43.68. MoonLake Immunotherapeutics has a 12 month low of $31.42 and a 12 month high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.87) EPS for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.14). During the same quarter in the prior year, the firm earned ($0.39) earnings per share. As a group, sell-side analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MLTX. Royal Bank Of Canada reissued an "outperform" rating and issued a $67.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 3rd. Needham & Company LLC reissued a "buy" rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Wolfe Research raised MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price objective for the company in a research note on Monday, May 19th. Wedbush reissued an "outperform" rating and issued a $80.00 price objective (up from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Finally, Rothschild & Co Redburn began coverage on MoonLake Immunotherapeutics in a research note on Monday, July 28th. They issued a "neutral" rating and a $65.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, MoonLake Immunotherapeutics currently has an average rating of "Moderate Buy" and an average price target 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.

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