JPMorgan Chase & Co. Buys 134,764 Shares of MoonLake Immunotherapeutics $MLTX

Key Points

• JPMorgan Chase boosted its stake in MoonLake Immunotherapeutics by 342.1% in Q3, buying 134,764 shares to hold 174,161 shares (about 0.27% of the company) valued at $1.25 million.
• BVF Partners director sold 3,750,000 shares at an average price of $16.79 for $62.96 million, cutting their holding by 78.3% but retaining 1,039,238 shares; insiders now own 12.02% of the stock.
• Several analysts raised price targets (e.g., Needham to $25, Oppenheimer to $35, HC Wainwright to $40), yet the consensus rating is a Hold with an average price target of $23.08.

JPMorgan Chase & Co. increased its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 342.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 174,161 shares of the company's stock after purchasing an additional 134,764 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.27% of MoonLake Immunotherapeutics worth $1,249,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth approximately $28,000. Bank of America Corp DE raised its stake in MoonLake Immunotherapeutics by 64.7% during the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company's stock worth $32,000 after acquiring an additional 1,781 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MoonLake Immunotherapeutics by 115.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company's stock worth $42,000 after acquiring an additional 3,166 shares during the period. Covestor Ltd bought a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth approximately $46,000. Finally, BNP Paribas Financial Markets raised its stake in MoonLake Immunotherapeutics by 18.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company's stock worth $52,000 after acquiring an additional 1,158 shares during the period. 93.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MLTX has been the topic of a number of recent analyst reports. Needham & Company LLC raised their price target on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the company a "buy" rating in a report on Monday, February 23rd. Oppenheimer raised their price target on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an "outperform" rating in a report on Tuesday, February 24th. HC Wainwright raised their price target on MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Wolfe Research raised MoonLake Immunotherapeutics from an "underperform" rating to an "outperform" rating and raised their price target for the company from $12.00 to $24.00 in a report on Monday, March 23rd. Finally, The Goldman Sachs Group cut MoonLake Immunotherapeutics from a "neutral" rating to a "sell" rating and raised their price target for the company from $8.00 to $10.00 in a report on Wednesday, January 14th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of "Hold" and an average price target of $23.08.

Insiders Place Their Bets

In other news, Director Bvf Partners L. P/Il sold 3,750,000 shares of the company's stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total transaction of $62,962,500.00. Following the transaction, the director owned 1,039,238 shares of the company's stock, valued at approximately $17,448,806.02. This represents a 78.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 12.02% of the stock is owned by company insiders.

MoonLake Immunotherapeutics Trading Up 4.4%

MLTX stock opened at $19.41 on Friday. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.24. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -5.51 and a beta of 1.19. The firm's fifty day simple moving average is $17.12 and its two-hundred day simple moving average is $15.66.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.92) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.92). During the same quarter in the prior year, the firm posted ($0.72) EPS. As a group, analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

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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