MoonLake Immunotherapeutics $MLTX Shares Bought by Cormorant Asset Management LP

Cormorant Asset Management LP grew its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 118.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,355,433 shares of the company’s stock after acquiring an additional 2,361,260 shares during the period. MoonLake Immunotherapeutics comprises about 2.7% of Cormorant Asset Management LP’s holdings, making the stock its 10th biggest position. Cormorant Asset Management LP owned about 6.78% of MoonLake Immunotherapeutics worth $57,405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of MoonLake Immunotherapeutics by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock valued at $2,809,000 after acquiring an additional 559 shares during the period. Squarepoint Ops LLC lifted its position in shares of MoonLake Immunotherapeutics by 3.7% during the 2nd quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock valued at $829,000 after acquiring an additional 629 shares during the period. Axiom Investors LLC DE lifted its position in shares of MoonLake Immunotherapeutics by 3.2% during the 4th quarter. Axiom Investors LLC DE now owns 25,998 shares of the company’s stock valued at $343,000 after acquiring an additional 818 shares during the period. Russell Investments Group Ltd. lifted its position in shares of MoonLake Immunotherapeutics by 45.4% during 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 period. Finally, BNP Paribas Financial Markets lifted its position in shares of MoonLake Immunotherapeutics by 18.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock valued at $52,000 after acquiring an additional 1,158 shares during the period. 93.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Bvf Partners L. P/Il sold 3,750,000 shares of the business’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $16.79, for a total transaction of $62,962,500.00. Following the completion of the sale, the director directly owned 1,039,238 shares of the company’s stock, valued at $17,448,806.02. The trade was a 78.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kristian Reich sold 50,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $19.43, for a total transaction 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. This represents 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. Insiders sold 4,000,000 shares of company stock valued at $67,630,663 in the last ninety days. Company insiders own 12.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. BTIG Research restated a “buy” rating and set a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Weiss Ratings restated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Rothschild & Co Redburn upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $40.00 in a research report on Thursday, March 19th. Finally, Royal Bank Of Canada lifted their price objective on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.85.

MoonLake Immunotherapeutics Stock Up 1.1%

MLTX stock opened at $19.19 on Thursday. The stock has a market capitalization of $1.41 billion, a P/E ratio of -4.96 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The company has a 50 day moving average price of $17.90 and a two-hundred day moving average price of $16.58.

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). As a group, sell-side analysts expect that MoonLake Immunotherapeutics will post -3.71 EPS for the current 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.