296,000 Shares in MoonLake Immunotherapeutics $MLTX Purchased by Octagon Capital Advisors LP

Key Points

• Octagon Capital Advisors LP acquired 296,000 shares of MoonLake Immunotherapeutics (NASDAQ: MLTX), valued at approximately $11.57 million, making it the firm's 18th largest holding.
• MoonLake Immunotherapeutics has received several analyst upgrades, with Wolfe Research raising its rating to "outperform" and establishing a price target of $61.00.
• The company reported a loss per share of $0.87, missing analysts' estimates, while its stock is currently trading around $61.12, with a market capitalization of about $3.93 billion.

Octagon Capital Advisors LP purchased a new position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 296,000 shares of the company's stock, valued at approximately $11,565,000. MoonLake Immunotherapeutics accounts for approximately 1.2% of Octagon Capital Advisors LP's investment portfolio, making the stock its 18th biggest holding. Octagon Capital Advisors LP owned approximately 0.46% of MoonLake Immunotherapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Deutsche Bank AG lifted its stake in MoonLake Immunotherapeutics by 59.8% in the fourth quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after acquiring an additional 338 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 valued at $359,000 after acquiring an additional 700 shares during the last quarter. MPM Bioimpact LLC lifted its stake in MoonLake Immunotherapeutics by 0.3% in the first quarter. MPM Bioimpact LLC now owns 316,049 shares of the company's stock valued at $12,348,000 after acquiring an additional 819 shares during the last quarter. US Bancorp DE raised its position in shares of MoonLake Immunotherapeutics by 114.4% in the first quarter. US Bancorp DE now owns 2,208 shares of the company's stock valued at $86,000 after purchasing an additional 1,178 shares during the period. Finally, Advisors Asset Management Inc. raised its position in shares of MoonLake Immunotherapeutics by 81.7% in the first quarter. Advisors Asset Management Inc. now owns 4,009 shares of the company's stock valued at $157,000 after purchasing an additional 1,803 shares during the period. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Stock Performance

MoonLake Immunotherapeutics stock traded down $1.68 on Friday, hitting $52.62. The company's stock had a trading volume of 864,952 shares, compared to its average volume of 600,645. The firm has a market cap of $3.38 billion, a P/E ratio of -18.93 and a beta of 1.27. The company has a quick ratio of 16.65, a current ratio of 16.65 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average price of $53.78 and a 200-day moving average price of $45.16. MoonLake Immunotherapeutics has a one year low of $31.42 and a one year high of $61.87.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same quarter in the prior year, the business posted ($0.39) EPS. On average, equities analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MLTX. The Goldman Sachs Group lifted their price target on shares of MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. 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 research report on Monday, May 19th. Redburn Atlantic raised shares of MoonLake Immunotherapeutics to a "hold" rating in a research report on Monday, July 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 3rd. Finally, Rothschild & Co Redburn assumed coverage on shares of MoonLake Immunotherapeutics in a research report on Monday, July 28th. They set a "neutral" rating and a $65.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.