Cubist Systematic Strategies LLC Makes New $970,000 Investment in MoonLake Immunotherapeutics $MLTX

Key Points

• Cubist Systematic Strategies LLC invested approximately $970,000 in MoonLake Immunotherapeutics, acquiring 24,819 shares during the 1st quarter, according to a recent SEC filing.
• Several institutional investors have increased their stakes in MoonLake Immunotherapeutics, with hedge funds holding about 93.85% of the company's stock.
• Analysts have set an average price target of $74.43 for MoonLake Immunotherapeutics, with seven analysts rating the stock as a "Buy".

Cubist Systematic Strategies LLC purchased a new position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,819 shares of the company's stock, valued at approximately $970,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deutsche Bank AG increased its holdings in MoonLake Immunotherapeutics by 59.8% during the 4th quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after acquiring an additional 338 shares in the last quarter. US Bancorp DE increased its position in MoonLake Immunotherapeutics by 114.4% during the first quarter. US Bancorp DE now owns 2,208 shares of the company's stock worth $86,000 after buying an additional 1,178 shares in the last quarter. Quarry LP acquired a new position in shares of MoonLake Immunotherapeutics in the first quarter worth $94,000. Legato Capital Management LLC acquired a new position in shares of MoonLake Immunotherapeutics in the first quarter worth $240,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter valued at $338,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Trading Down 3.1%

MLTX stock traded down $1.68 during trading on Friday, reaching $52.62. 864,952 shares of the stock traded hands, compared to its average volume of 575,855. The firm has a market capitalization of $3.38 billion, a PE ratio of -18.93 and a beta of 1.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 16.65 and a quick ratio of 16.65. The business's 50 day moving average price is $53.78 and its 200-day moving average price is $45.14. MoonLake Immunotherapeutics has a 52-week low of $31.42 and a 52-week high of $61.87.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings data 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 period in the prior year, the firm posted ($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.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MLTX. Redburn Atlantic raised shares of MoonLake Immunotherapeutics to a "hold" rating in a research report on Monday, July 28th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 3rd. Wolfe Research raised MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price target on the stock in a research note on Monday, May 19th. Rothschild & Co Redburn initiated coverage on MoonLake Immunotherapeutics in a research report on Monday, July 28th. They issued a "neutral" rating and a $65.00 price objective for the company. Finally, The Goldman Sachs Group upped their target price on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company 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.