Candriam S.C.A. Increases Stake in MoonLake Immunotherapeutics $MLTX

Candriam S.C.A. grew its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 509.0% during the 1st quarter, HoldingsChannel reports. The firm owned 818,126 shares of the company’s stock after buying an additional 683,797 shares during the period. Candriam S.C.A.’s holdings in MoonLake Immunotherapeutics were worth $15,250,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Kestra Advisory Services LLC purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $26,000. FNY Investment Advisers LLC acquired a new position in MoonLake Immunotherapeutics during the third quarter worth about $28,000. Bank of America Corp DE grew its stake in MoonLake Immunotherapeutics by 64.7% during the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after acquiring an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in MoonLake Immunotherapeutics by 115.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock valued at $42,000 after acquiring an additional 3,166 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in MoonLake Immunotherapeutics by 45.4% in the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after acquiring an additional 1,069 shares during the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Trading Up 2.2%

NASDAQ:MLTX traded up $0.43 on Friday, hitting $20.36. The stock had a trading volume of 1,937,169 shares, compared to its average volume of 1,403,214. The company has a fifty day moving average price of $18.60 and a two-hundred day moving average price of $17.23. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -5.26 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). Equities research analysts expect that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current fiscal year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other news, CEO Da Silva Jorge Santos sold 51,873 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $18.23, for a total transaction of $945,644.79. Following the completion of the transaction, the chief executive officer directly owned 2,924,893 shares in the company, valued at approximately $53,320,799.39. This represents a 1.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $19.43, for a total value of $971,500.00. Following the sale, the insider directly owned 2,824,551 shares of the company’s stock, valued at $54,881,025.93. The trade was a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 199,648 shares of company stock worth $3,818,578. Corporate insiders own 12.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Rothschild & Co Redburn raised shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $12.00 to $40.00 in a research note on Thursday, March 19th. Wolfe Research raised MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and increased their price target for the company from $12.00 to $24.00 in a report on Monday, March 23rd. HC Wainwright reiterated a “buy” rating and set a $45.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday, June 8th. Needham & Company LLC boosted 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. Finally, BTIG Research restated a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.21.

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.