Walleye Capital LLC Reduces Holdings in MoonLake Immunotherapeutics $MLTX

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 lowered its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 87.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in MoonLake Immunotherapeutics in the first quarter worth about $26,308,000. Westfield Capital Management Co. LP lifted its stake 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 purchasing an additional 123,151 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in MoonLake Immunotherapeutics by 8.2% in the first quarter. PNC Financial Services Group Inc. now owns 9,200 shares of the company's stock worth $359,000 after purchasing an additional 700 shares during the last quarter. Jefferies Financial Group Inc. lifted its stake in MoonLake Immunotherapeutics by 60.0% in the first quarter. Jefferies Financial Group Inc. now owns 10,000 shares of the company's stock worth $391,000 after purchasing an additional 3,750 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of MoonLake Immunotherapeutics by 114.4% during the first quarter. US Bancorp DE now owns 2,208 shares of the company's stock valued at $86,000 after acquiring an additional 1,178 shares in the last quarter. Institutional investors own 93.85% of the company's stock.

MoonLake Immunotherapeutics Price Performance

MLTX traded up $0.73 on Friday, reaching $60.45. 475,143 shares of the company's stock were exchanged, compared to its average volume of 481,091. The stock has a market cap of $3.88 billion, a PE ratio of -21.77 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. MoonLake Immunotherapeutics has a twelve month low of $31.42 and a twelve month high of $61.87. The stock's fifty day moving average price is $52.65 and its 200-day moving average price is $44.51.

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 quarter in the prior year, the business posted ($0.39) EPS. Sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MLTX. Rothschild & Co Redburn began coverage on shares of MoonLake Immunotherapeutics in a research note on Monday, July 28th. They set a "neutral" rating and a $65.00 price target for the company. Redburn Atlantic raised shares of MoonLake Immunotherapeutics to a "hold" rating in a research note on Monday, July 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a research note 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 price objective for the company in a research note on Monday, May 19th. Finally, 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. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $74.43.

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.