Paradigm Biocapital Advisors LP Decreases Position in MoonLake Immunotherapeutics $MLTX

Key Points

• Paradigm Biocapital Advisors LP has reduced its stake in MoonLake Immunotherapeutics by 64.6%, selling 1,144,788 shares in the first quarter, leaving it with approximately 627,423 shares. This makes MoonLake about 1.2% of Paradigm's total holdings.
• Despite the sale by Paradigm, several institutional investors have increased their positions in MoonLake, with 93.85% of the stock owned by institutional investors as of the latest filings.
• Equities analysts remain optimistic about MoonLake, with a consensus rating of "Moderate Buy" and a consensus price target of $74.43 per share.

Paradigm Biocapital Advisors LP reduced its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 64.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 627,423 shares of the company's stock after selling 1,144,788 shares during the quarter. MoonLake Immunotherapeutics makes up about 1.2% of Paradigm Biocapital Advisors LP's portfolio, making the stock its 22nd biggest holding. Paradigm Biocapital Advisors LP owned 0.98% of MoonLake Immunotherapeutics worth $24,513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Nuveen LLC bought a new position in shares of MoonLake Immunotherapeutics during the 1st quarter worth approximately $26,308,000. Westfield Capital Management Co. LP lifted its holdings in MoonLake Immunotherapeutics by 9.4% during the 1st 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 holdings in MoonLake Immunotherapeutics by 8.2% during the 1st 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 holdings in MoonLake Immunotherapeutics by 60.0% during the 1st 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 lifted its holdings in MoonLake Immunotherapeutics by 114.4% during the 1st quarter. US Bancorp DE now owns 2,208 shares of the company's stock worth $86,000 after purchasing an additional 1,178 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Stock Up 0.6%

MLTX stock traded up $0.34 during trading on Friday, reaching $60.06. 754,326 shares of the stock were exchanged, compared to its average volume of 483,001. The firm's 50 day moving average is $52.65 and its 200 day moving average is $44.51. MoonLake Immunotherapeutics has a twelve month low of $31.42 and a twelve month high of $61.87. The company has a current ratio of 16.65, a quick ratio of 16.65 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.86 billion, a P/E ratio of -21.61 and a beta of 1.27.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings results 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 firm earned ($0.39) earnings per share. As a group, research analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Wall Street Analysts Forecast Growth

MLTX has been the subject of several analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $80.00 price objective (up from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Redburn Atlantic raised MoonLake Immunotherapeutics to a "hold" rating in a report on Monday, July 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 3rd. Rothschild & Co Redburn initiated coverage on MoonLake Immunotherapeutics in a report on Monday, July 28th. They issued a "neutral" rating and a $65.00 price objective for the company. Finally, Wolfe Research raised MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price objective for the company in a report on Monday, May 19th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.