Caitong International Asset Management Co. Ltd Lowers Holdings in MoonLake Immunotherapeutics $MLTX

Caitong International Asset Management Co. Ltd decreased its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 91.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,095 shares of the company’s stock after selling 77,458 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in MoonLake Immunotherapeutics were worth $94,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of MoonLake Immunotherapeutics by 92.0% during the 4th quarter. Wells Fargo & Company MN now owns 10,000 shares of the company’s stock worth $132,000 after acquiring an additional 4,792 shares in the last quarter. Rhenman & Partners Asset Management AB boosted its stake in shares of MoonLake Immunotherapeutics by 75.8% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 364,000 shares of the company’s stock worth $4,798,000 after acquiring an additional 157,000 shares in the last quarter. HRT Financial LP boosted its stake in shares of MoonLake Immunotherapeutics by 343.8% during the 4th quarter. HRT Financial LP now owns 635,901 shares of the company’s stock worth $8,381,000 after acquiring an additional 492,626 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter worth about $204,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter worth about $1,772,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Bvf Partners L. P/Il sold 3,750,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total transaction of $62,962,500.00. Following the transaction, the director owned 1,039,238 shares in the company, valued at approximately $17,448,806.02. This trade represents a 78.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Da Silva Jorge Santos sold 98,127 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $18.41, for a total value of $1,806,518.07. Following the transaction, the chief executive officer owned 2,976,766 shares in the company, valued at approximately $54,802,262.06. The trade was a 3.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,900,000 shares of company stock worth $65,714,663. 12.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on MLTX. Royal Bank Of Canada increased their target price on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Monday, March 2nd. Oppenheimer increased their target price on shares of MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. BTIG Research reissued a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday. Wolfe Research raised shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $24.00 in a research note on Monday, March 23rd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 12th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.85.

MoonLake Immunotherapeutics Trading Up 5.3%

Shares of MLTX stock opened at $18.69 on Friday. The stock’s fifty day moving average is $17.79 and its two-hundred day moving average is $16.44. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60. The firm has a market capitalization of $1.38 billion, a P/E ratio of -4.83 and a beta of 1.04. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75.

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

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.