Traders Buy Large Volume of MoonLake Immunotherapeutics Put Options (NASDAQ:MLTX)

Key Points

• Traders recently bought 6,001 put options for MoonLake Immunotherapeutics (NASDAQ:MLTX), marking a 1,185% increase from the average volume of 467 put options.
• Several institutional investors, including FMR LLC and Paradigm Biocapital Advisors, increased their stakes significantly, with FMR LLC growing its position by 28.1%.
• MoonLake Immunotherapeutics shares fell by 0.6% to $54.71, while the company holds a market capitalization of $3.50 billion.
• Analysts maintain an average buy rating for the stock, with a target price of $74.50, reflecting optimism despite recent fluctuations.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) was the target of some unusual options trading activity on Friday. Stock traders purchased 6,001 put options on the stock. This is an increase of approximately 1,185% compared to the typical volume of 467 put options.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MLTX. FMR LLC grew its position in MoonLake Immunotherapeutics by 28.1% in the fourth quarter. FMR LLC now owns 6,341,391 shares of the company's stock valued at $343,386,000 after purchasing an additional 1,391,167 shares in the last quarter. Paradigm Biocapital Advisors LP grew its position in MoonLake Immunotherapeutics by 90.3% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company's stock valued at $95,965,000 after purchasing an additional 840,731 shares in the last quarter. Nuveen LLC bought a new position in MoonLake Immunotherapeutics in the first quarter valued at $26,308,000. Polar Capital Holdings Plc grew its position in MoonLake Immunotherapeutics by 120.0% in the fourth quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company's stock valued at $59,565,000 after purchasing an additional 600,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in MoonLake Immunotherapeutics by 12.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company's stock valued at $181,059,000 after purchasing an additional 363,394 shares in the last quarter. Institutional investors own 93.85% of the company's stock.

MoonLake Immunotherapeutics Stock Down 0.6%

Shares of MLTX stock traded down $0.32 during trading hours on Friday, hitting $54.71. 63,500 shares of the company were exchanged, compared to its average volume of 473,968. The business has a 50 day moving average of $45.81 and a two-hundred day moving average of $42.64. The company has a current ratio of 21.11, a quick ratio of 21.11 and a debt-to-equity ratio of 0.18. MoonLake Immunotherapeutics has a 52 week low of $31.42 and a 52 week high of $58.26. The company has a market capitalization of $3.50 billion, a PE ratio of -23.79 and a beta of 1.27.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.13. During the same quarter in the prior year, the company posted ($0.22) EPS. Analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on MLTX shares. Wedbush reissued an "outperform" rating and set a $80.00 target price (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Finally, Wolfe Research upgraded shares of MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 target price on the stock in a research report on Monday, May 19th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $74.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.