Renaissance Technologies LLC Raises Stake in MoonLake Immunotherapeutics $MLTX

Key Points

• Renaissance Technologies more than doubled its MoonLake Immunotherapeutics stake in the first quarter, adding 142,300 shares to own 276,772 shares valued at approximately $5.16 million. Institutional investors collectively own 93.85% of MLTX.
• MoonLake reported a quarterly loss of $0.98 per share, missing the $0.91 consensus estimate. Analysts expect a full-year loss of $3.64 per share.
• Analyst sentiment is mixed but leans positive: the average rating is “Hold” with a $24.21 price target, while several firms maintain Buy ratings and targets ranging from $29 to $45.

Renaissance Technologies LLC raised its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 105.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 276,772 shares of the company's stock after purchasing an additional 142,300 shares during the quarter. Renaissance Technologies LLC owned about 0.39% of MoonLake Immunotherapeutics worth $5,159,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arrowstreet Capital Limited Partnership purchased a new position in shares of MoonLake Immunotherapeutics during the first quarter worth about $1,307,000. Candriam S.C.A. increased its position in MoonLake Immunotherapeutics by 509.0% in the 1st quarter. Candriam S.C.A. now owns 818,126 shares of the company's stock valued at $15,250,000 after acquiring an additional 683,797 shares during the period. Y Intercept Hong Kong Ltd raised its stake in MoonLake Immunotherapeutics by 32.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 127,087 shares of the company's stock valued at $2,369,000 after acquiring an additional 31,115 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at approximately $147,000. Finally, Virtu Financial LLC acquired a new stake in MoonLake Immunotherapeutics during the 4th quarter worth approximately $166,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ:MLTX opened at $17.55 on Thursday. The business's 50 day simple moving average is $19.09 and its 200-day simple moving average is $17.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -4.53 and a beta of 1.06. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced 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). As a group, equities analysts forecast that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 68,289 shares of the firm's 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 owned 2,774,893 shares of the company's stock, valued at approximately $55,553,357.86. This trade represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total value of $1,001,000.00. Following the sale, the insider owned 2,714,746 shares of the company's stock, valued at approximately $54,349,214.92. This represents a 1.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 344,800 shares of company stock worth $6,820,071. 10.40% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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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