Avidity Partners Management LP Acquires New Holdings in MoonLake Immunotherapeutics $MLTX

Avidity Partners Management LP bought a new position in MoonLake Immunotherapeutics (NASDAQ:MLTX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $932,000. Avidity Partners Management LP owned about 0.07% of MoonLake Immunotherapeutics at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in MoonLake Immunotherapeutics by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after buying an additional 559 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of MoonLake Immunotherapeutics by 3.7% in the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock worth $829,000 after purchasing an additional 629 shares in the last quarter. Axiom Investors LLC DE increased its holdings in shares of MoonLake Immunotherapeutics by 3.2% during the fourth quarter. Axiom Investors LLC DE now owns 25,998 shares of the company’s stock valued at $343,000 after purchasing an additional 818 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after purchasing an additional 1,069 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of MoonLake Immunotherapeutics by 18.9% during the third quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock valued at $52,000 after purchasing an additional 1,158 shares in the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other news, insider Kristian Reich sold 50,000 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total transaction of $1,001,000.00. Following the completion of the sale, the insider directly owned 2,714,746 shares of the company’s stock, valued at $54,349,214.92. This represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Da Silva Jorge Santos sold 68,289 shares of MoonLake Immunotherapeutics stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $20.02, for a total value of $1,367,145.78. Following the completion of the transaction, the chief executive officer directly owned 2,774,893 shares in the company, valued at $55,553,357.86. This represents a 2.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 344,800 shares of company stock valued at $6,820,071. Corporate insiders own 10.40% of the company’s stock.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $18.44 on Friday. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $19.12 and a 200-day moving average of $17.85. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -4.76 and a beta of 1.04.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.07). Analysts forecast that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MLTX. BTIG Research reaffirmed a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 12th. Needham & Company LLC boosted their target price on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Leerink Partners upped their target price on MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $45.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday, July 20th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $24.21.

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.