Rhenman & Partners Asset Management AB Acquires 162,000 Shares of MoonLake Immunotherapeutics $MLTX

Rhenman & Partners Asset Management AB raised its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 360.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,000 shares of the company’s stock after purchasing an additional 162,000 shares during the period. Rhenman & Partners Asset Management AB’s holdings in MoonLake Immunotherapeutics were worth $1,484,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vestal Point Capital LP lifted its stake in shares of MoonLake Immunotherapeutics by 175.0% during the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock valued at $25,960,000 after buying an additional 350,000 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in MoonLake Immunotherapeutics by 436.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 423,170 shares of the company’s stock valued at $19,974,000 after acquiring an additional 344,335 shares during the period. Millennium Management LLC lifted its position in shares of MoonLake Immunotherapeutics by 3,343.2% during the first quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock worth $13,453,000 after acquiring an additional 334,320 shares in the last quarter. Decheng Capital LLC bought a new position in shares of MoonLake Immunotherapeutics in the second quarter worth $8,572,000. Finally, Alliancebernstein L.P. grew its position in shares of MoonLake Immunotherapeutics by 17.8% in the second quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock valued at $53,715,000 after purchasing an additional 171,932 shares in the last quarter. Institutional investors own 93.85% of the company’s stock.

Insider Activity at MoonLake Immunotherapeutics

In other news, insider Kristian Reich sold 72,908 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $14.43, for a total value of $1,052,062.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Da Silva Jorge Santos sold 70,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 2,878,577 shares in the company, valued at approximately $41,710,580.73. This trade represents a 2.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 402,908 shares of company stock valued at $5,987,162. 12.02% of the stock is currently owned by company insiders.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $18.08 on Friday. The business’s 50-day moving average price is $16.05 and its two-hundred day moving average price is $21.79. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The stock has a market cap of $1.30 billion, a P/E ratio of -5.14 and a beta of 1.20. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.24.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.92) EPS for the quarter, hitting the consensus estimate of ($0.92). During the same period in the previous year, the business posted ($0.72) EPS. As a group, equities analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on MLTX shares. Zacks Research raised MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Needham & Company LLC upped their price target on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Oppenheimer increased their price target on shares of MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. The Goldman Sachs Group lowered shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and raised their price objective for the company from $8.00 to $10.00 in a research report on Wednesday, January 14th. Finally, HC Wainwright upped their target price on shares of MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, MoonLake Immunotherapeutics currently has an average rating of “Hold” and an average target price of $27.85.

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.