Weiss Asset Management LP Acquires 1,375,367 Shares of MoonLake Immunotherapeutics $MLTX

Key Points

• Weiss Asset Management LP boosted its MoonLake Immunotherapeutics stake by 413.1% in the first quarter, buying 1,375,367 additional shares and bringing its total holdings to 1,708,328 shares worth about $31.8 million.
• Several other institutional investors also increased positions in MLTX, and institutions now own 93.85% of the company’s stock.
• Insiders have recently sold shares, including the CEO and another executive, while analysts remain mixed overall with a consensus rating of Hold and an average price target of $24.21.

Weiss Asset Management LP increased its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 413.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,708,328 shares of the company's stock after purchasing an additional 1,375,367 shares during the period. MoonLake Immunotherapeutics makes up 0.5% of Weiss Asset Management LP's portfolio, making the stock its 26th biggest position. Weiss Asset Management LP owned about 2.38% of MoonLake Immunotherapeutics worth $31,843,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rice Hall James & Associates LLC boosted its holdings in MoonLake Immunotherapeutics by 31.6% during the first quarter. Rice Hall James & Associates LLC now owns 167,766 shares of the company's stock valued at $3,127,000 after purchasing an additional 40,301 shares in the last quarter. Granahan Investment Management LLC raised its holdings in shares of MoonLake Immunotherapeutics by 11.2% in the 1st quarter. Granahan Investment Management LLC now owns 220,600 shares of the company's stock worth $4,112,000 after buying an additional 22,293 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of MoonLake Immunotherapeutics by 105.8% during the 1st quarter. Renaissance Technologies LLC now owns 276,772 shares of the company's stock worth $5,159,000 after buying an additional 142,300 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of MoonLake Immunotherapeutics during the 1st quarter worth approximately $1,307,000. Finally, Candriam S.C.A. boosted its stake 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 buying an additional 683,797 shares in the last quarter. Institutional investors own 93.85% of the company's stock.

Insiders Place Their Bets

In related news, insider Kristian Reich sold 50,000 shares of the company's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction of $971,500.00. Following the transaction, the insider owned 2,824,551 shares in the company, valued at $54,881,025.93. This represents a 1.74% decrease in their position. The sale was disclosed in a 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 the stock in a transaction dated 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 sale, the chief executive officer directly owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 250,000 shares of company stock valued at $4,919,138. 10.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MLTX shares. Needham & Company LLC increased their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. HC Wainwright restated a "buy" rating and issued a $45.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, July 20th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. BTIG Research reiterated a "buy" rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Finally, Leerink Partners lifted their price target 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. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, MoonLake Immunotherapeutics has a consensus rating of "Hold" and a consensus target price of $24.21.

MoonLake Immunotherapeutics Stock Down 1.8%

NASDAQ MLTX opened at $19.02 on Friday. The stock's 50 day simple moving average is $18.97 and its 200 day simple moving average is $17.66. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The firm has a market cap of $1.40 billion, a PE ratio of -4.91 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.07). As a group, sell-side analysts forecast that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current fiscal year.

MoonLake Immunotherapeutics 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.

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