Victory Capital Management Inc. Trims Stock Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Victory Capital Management Inc. lessened its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,607 shares of the company's stock after selling 28,370 shares during the period. Victory Capital Management Inc. owned 0.25% of MoonLake Immunotherapeutics worth $9,337,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MLTX. Barclays PLC bought a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth approximately $189,000. Stratos Wealth Partners LTD. bought a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth $202,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth $217,000. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in MoonLake Immunotherapeutics in the third quarter valued at $246,000. Finally, Graham Capital Management L.P. bought a new position in MoonLake Immunotherapeutics during the 3rd quarter worth $248,000. 93.85% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Kristian Reich sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $60.15, for a total value of $601,500.00. Following the transaction, the insider now owns 110,071 shares of the company's stock, valued at $6,620,770.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Kristian Reich sold 10,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $60.15, for a total transaction of $601,500.00. Following the transaction, the insider now directly owns 110,071 shares of the company's stock, valued at approximately $6,620,770.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Da Silva Jorge Santos sold 20,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $60.18, for a total transaction of $1,203,600.00. Following the transaction, the chief executive officer now directly owns 3,147,554 shares in the company, valued at approximately $189,419,799.72. The disclosure for this sale can be found here. Insiders sold 166,981 shares of company stock valued at $9,490,674 in the last quarter. 12.02% of the stock is currently owned by insiders.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX traded down $0.94 during trading hours on Tuesday, reaching $40.77. The company's stock had a trading volume of 179,442 shares, compared to its average volume of 434,390. The firm has a 50-day simple moving average of $45.41 and a 200-day simple moving average of $50.47. MoonLake Immunotherapeutics has a 1 year low of $24.31 and a 1 year high of $64.98. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of -54.36 and a beta of 1.29.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings results on Sunday, May 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Equities analysts anticipate that MoonLake Immunotherapeutics will post -1.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MLTX has been the subject of several analyst reports. The Goldman Sachs Group assumed coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They set a "neutral" rating and a $62.00 price target for the company. HC Wainwright reissued a "buy" rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Wednesday, May 8th. William Blair reaffirmed an "outperform" rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Wedbush reaffirmed an "outperform" rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, MoonLake Immunotherapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $74.46.

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.