MoonLake Immunotherapeutics $MLTX Shares Sold by Walleye Capital LLC

Key Points

• Walleye Capital LLC significantly reduced its holdings in MoonLake Immunotherapeutics by 87.2%, selling 182,932 shares and now owning 26,764 shares valued at approximately $1,046,000.
• Several institutional investors have increased their positions, with Paradigm Biocapital Advisors LP boosting its stake by 90.3% to 1,772,211 shares, valued at nearly $95.97 million.
• MoonLake Immunotherapeutics received multiple analyst upgrades, with Needham & Company and others issuing buy ratings and setting target prices ranging from $61.00 to $82.00.

Walleye Capital LLC decreased its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 87.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,764 shares of the company's stock after selling 182,932 shares during the period. Walleye Capital LLC's holdings in MoonLake Immunotherapeutics were worth $1,046,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MLTX. Paradigm Biocapital Advisors LP boosted its holdings in shares of MoonLake Immunotherapeutics by 90.3% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company's stock valued at $95,965,000 after acquiring an additional 840,731 shares in the last quarter. Nuveen LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the first quarter valued at about $26,308,000. Polar Capital Holdings Plc boosted its holdings in shares of MoonLake Immunotherapeutics by 120.0% in the fourth quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company's stock valued at $59,565,000 after acquiring an additional 600,000 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of 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 valued at $56,056,000 after acquiring an additional 123,151 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter valued at about $5,346,000. Hedge funds and other institutional investors own 93.85% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MLTX. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Wolfe Research raised shares of MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 target price on the stock in a report on Monday, May 19th. Wedbush reaffirmed an "outperform" rating and issued a $80.00 target price (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Rothschild & Co Redburn began coverage on shares of MoonLake Immunotherapeutics in a report on Monday, July 28th. They issued a "neutral" rating and a $65.00 target price on the stock. Finally, The Goldman Sachs Group lifted their target price on shares of MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of "Moderate Buy" and an average price target of $74.43.

MoonLake Immunotherapeutics Stock Up 1.7%

MLTX stock opened at $55.75 on Friday. The company has a market cap of $3.58 billion, a P/E ratio of -20.05 and a beta of 1.27. MoonLake Immunotherapeutics has a 52 week low of $31.42 and a 52 week high of $58.26. The company's 50-day moving average price is $51.68 and its 200 day moving average price is $44.10. The company has a current ratio of 16.65, a quick ratio of 16.65 and a debt-to-equity ratio of 0.21.

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 previous year, the firm earned ($0.39) EPS. On average, research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share 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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