Readystate Asset Management LP Invests $2.69 Million in MoonLake Immunotherapeutics $MLTX

Key Points

• Readystate Asset Management acquired 144,238 MoonLake Immunotherapeutics shares worth approximately $2.69 million, representing a 0.20% stake. Institutional investors collectively own 93.85% of the company.
• MoonLake reported a quarterly loss of $0.98 per share, missing analysts’ $0.91 loss estimate; analysts expect a full-year loss of $3.64 per share.
• Analyst sentiment is mixed but leans positive, with a consensus “Hold” rating and an average price target of $24.21 versus the stock’s reported $18.71 price. Meanwhile, insiders have sold 343,700 shares worth $6.8 million over the past three months.

Readystate Asset Management LP purchased a new position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 144,238 shares of the company's stock, valued at approximately $2,689,000. Readystate Asset Management LP owned 0.20% of MoonLake Immunotherapeutics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in MoonLake Immunotherapeutics by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company's stock worth $2,809,000 after acquiring an additional 559 shares in the last quarter. Squarepoint Ops LLC increased its holdings in MoonLake Immunotherapeutics by 3.7% during the 2nd quarter. Squarepoint Ops LLC now owns 17,571 shares of the company's stock worth $829,000 after purchasing an additional 629 shares during the period. Axiom Investors LLC DE increased its holdings in MoonLake Immunotherapeutics by 3.2% during the 4th quarter. Axiom Investors LLC DE now owns 25,998 shares of the company's stock worth $343,000 after purchasing an additional 818 shares during the period. Russell Investments Group Ltd. raised its position in MoonLake Immunotherapeutics by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company's stock valued at $45,000 after purchasing an additional 1,069 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in MoonLake Immunotherapeutics by 18.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company's stock valued at $52,000 after purchasing an additional 1,158 shares in the last quarter. Institutional investors own 93.85% of the company's stock.

MoonLake Immunotherapeutics Stock Performance

Shares of MoonLake Immunotherapeutics stock opened at $18.71 on Wednesday. The company has a market capitalization of $1.38 billion, a PE ratio of -4.83 and a beta of 1.04. The company has a 50-day simple moving average of $19.08 and a two-hundred day simple moving average of $17.81. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.07). Research analysts expect that MoonLake Immunotherapeutics will post -3.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MLTX has been the topic of a number of recent research reports. Needham & Company LLC increased their price target on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. HC Wainwright restated a "buy" rating and issued a $45.00 price target on shares of MoonLake Immunotherapeutics in a report on Monday, July 20th. Leerink Partners lifted their price objective on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. Weiss Ratings restated a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Finally, BTIG Research reaffirmed a "buy" rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $24.21.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $20.02, for a total value of $1,001,000.00. Following the completion of the sale, the insider directly owned 2,714,746 shares in the company, valued at $54,349,214.92. This trade represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Da Silva Jorge Santos sold 68,289 shares of MoonLake Immunotherapeutics stock in a transaction on Friday, July 10th. The stock was sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the completion of the transaction, the chief executive officer directly owned 2,774,893 shares in the company, valued at $55,553,357.86. This represents a 2.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 343,700 shares of company stock valued at $6,798,071 in the last three months. 10.40% of the stock is currently owned by corporate insiders.

About MoonLake Immunotherapeutics

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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