TD Asset Management Inc Sells 30,752 Shares of MoonLake Immunotherapeutics $MLTX

TD Asset Management Inc lessened its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 14.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 186,152 shares of the company’s stock after selling 30,752 shares during the period. TD Asset Management Inc’s holdings in MoonLake Immunotherapeutics were worth $8,786,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zimmer Partners LP bought a new position in shares of MoonLake Immunotherapeutics during the 1st quarter worth approximately $957,000. Caxton Associates LLP bought a new position in shares of MoonLake Immunotherapeutics during the 1st quarter worth approximately $347,000. Octagon Capital Advisors LP bought a new position in shares of MoonLake Immunotherapeutics during the 1st quarter worth approximately $11,565,000. Granahan Investment Management LLC lifted its position in shares of MoonLake Immunotherapeutics by 4.2% during the 1st quarter. Granahan Investment Management LLC now owns 142,220 shares of the company’s stock worth $5,557,000 after buying an additional 5,782 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of MoonLake Immunotherapeutics during the 1st quarter worth approximately $970,000. Institutional investors own 93.85% of the company’s stock.

Analyst Upgrades and Downgrades

MLTX has been the subject of several analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $10.00 target price (down previously from $67.00) on shares of MoonLake Immunotherapeutics in a research report on Monday, September 29th. BTIG Research downgraded MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating and set a $85.00 target price for the company. in a research report on Monday, September 29th. Wedbush cut their price objective on MoonLake Immunotherapeutics from $80.00 to $18.00 and set an “outperform” rating for the company in a research report on Tuesday, September 30th. HC Wainwright downgraded MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, October 2nd. Finally, Needham & Company LLC cut their price objective on MoonLake Immunotherapeutics from $66.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, September 30th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $36.00.

Insider Activity at MoonLake Immunotherapeutics

In other news, major shareholder Bihua Chen sold 5,827 shares of MoonLake Immunotherapeutics stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $6.96, for a total value of $40,555.92. Following the completion of the sale, the insider directly owned 1,994,173 shares of the company’s stock, valued at approximately $13,879,444.08. This trade represents a 0.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.05% of the company’s stock.

MoonLake Immunotherapeutics Trading Down 2.8%

Shares of MLTX opened at $9.12 on Monday. The stock has a fifty day moving average price of $41.38 and a two-hundred day moving average price of $43.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 16.65 and a current ratio of 16.65. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. The company has a market cap of $585.78 million, a price-to-earnings ratio of -3.28 and a beta of 1.10.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same quarter in the previous year, the company posted ($0.39) earnings per share. Analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

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.