Mirae Asset Global Investments Co. Ltd. Acquires 6,112 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 48.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,699 shares of the company’s stock after buying an additional 6,112 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in MoonLake Immunotherapeutics were worth $1,129,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. TD Asset Management Inc grew its holdings in shares of MoonLake Immunotherapeutics by 101.1% during the third quarter. TD Asset Management Inc now owns 200,390 shares of the company’s stock worth $11,422,000 after purchasing an additional 100,750 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in MoonLake Immunotherapeutics in the 3rd quarter worth approximately $293,000. Victory Capital Management Inc. grew its stake in MoonLake Immunotherapeutics by 773.4% in the 3rd quarter. Victory Capital Management Inc. now owns 182,977 shares of the company’s stock worth $10,430,000 after buying an additional 162,027 shares in the last quarter. Arizona State Retirement System bought a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter worth $293,000. Finally, Barclays PLC purchased a new stake in shares of MoonLake Immunotherapeutics during the 3rd quarter valued at $189,000. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Price Performance

MLTX stock opened at $41.02 on Tuesday. The stock has a market capitalization of $2.62 billion, a P/E ratio of -53.97 and a beta of 1.20. MoonLake Immunotherapeutics has a 1-year low of $19.80 and a 1-year high of $64.98. The business has a fifty day moving average price of $49.84 and a 200-day moving average price of $52.08.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.11. As a group, analysts anticipate that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current year.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $62.43, for a total transaction of $624,300.00. Following the completion of the sale, the insider now directly owns 130,071 shares in the company, valued at approximately $8,120,332.53. The sale was disclosed in a document filed with the SEC, which is available through this link. In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $60.18, for a total value of $1,203,600.00. Following the transaction, the chief executive officer now directly owns 3,147,554 shares of the company’s stock, valued at $189,419,799.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kristian Reich sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $62.43, for a total transaction of $624,300.00. Following the completion of the transaction, the insider now owns 130,071 shares in the company, valued at approximately $8,120,332.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 166,981 shares of company stock worth $9,490,674. 15.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, April 9th. The Goldman Sachs Group started coverage on MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, April 11th. Wedbush reissued an “outperform” rating and set a $92.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. Finally, William Blair restated an “outperform” rating and set a $92.00 price target on shares of MoonLake Immunotherapeutics in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.46.

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.