MoonLake Immunotherapeutics $MLTX Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 42.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 106,610 shares of the company’s stock after selling 79,542 shares during the period. TD Asset Management Inc’s holdings in MoonLake Immunotherapeutics were worth $764,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MLTX. JPMorgan Chase & Co. increased its holdings in shares of MoonLake Immunotherapeutics by 342.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 174,161 shares of the company’s stock valued at $1,249,000 after acquiring an additional 134,764 shares during the period. Principal Financial Group Inc. acquired a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth $509,000. Covestor Ltd purchased a new position in MoonLake Immunotherapeutics during the 3rd quarter worth $46,000. SG Americas Securities LLC purchased a new position in MoonLake Immunotherapeutics during the 3rd quarter worth $126,000. Finally, Squarepoint Ops LLC increased its stake in MoonLake Immunotherapeutics by 3.7% in the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock valued at $829,000 after purchasing an additional 629 shares during the period. 93.85% of the stock is owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ:MLTX opened at $18.08 on Friday. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -5.14 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.27 and a quick ratio of 9.27. The business’s 50 day simple moving average is $16.05 and its 200-day simple moving average is $22.00. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, February 25th. The company reported ($0.92) earnings per share for the quarter, meeting the consensus estimate of ($0.92). During the same period last year, the business posted ($0.72) earnings per share. As a group, equities analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Insider Activity at MoonLake Immunotherapeutics

In other news, CEO Da Silva Jorge Santos sold 70,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $14.49, for a total transaction of $1,014,300.00. Following the completion of the transaction, the chief executive officer directly owned 2,878,577 shares of the company’s stock, valued at $41,710,580.73. This trade represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kristian Reich sold 72,908 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $14.43, for a total value of $1,052,062.44. The disclosure for this sale is available in the SEC filing. Insiders sold 402,908 shares of company stock worth $5,987,162 over the last quarter. Company insiders own 12.02% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MLTX shares. The Goldman Sachs Group downgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and increased their target price for the stock from $8.00 to $10.00 in a research note on Wednesday, January 14th. BTIG Research increased their price objective on MoonLake Immunotherapeutics from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Needham & Company LLC lifted their target price on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Royal Bank Of Canada upped their price target on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Monday, March 2nd. Finally, HC Wainwright lifted their price objective on shares of MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.85.

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.