Weiss Asset Management LP Buys 1,375,367 Shares of MoonLake Immunotherapeutics $MLTX

Weiss Asset Management LP boosted its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 413.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,708,328 shares of the company’s stock after purchasing an additional 1,375,367 shares during the quarter. MoonLake Immunotherapeutics makes up approximately 0.5% of Weiss Asset Management LP’s investment portfolio, making the stock its 26th biggest position. Weiss Asset Management LP’s holdings in MoonLake Immunotherapeutics were worth $31,843,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Candriam S.C.A. lifted its position in MoonLake Immunotherapeutics by 509.0% during the 1st quarter. Candriam S.C.A. now owns 818,126 shares of the company’s stock valued at $15,250,000 after purchasing an additional 683,797 shares during the period. UBS Group AG grew its position in shares of MoonLake Immunotherapeutics by 183.4% during the 4th quarter. UBS Group AG now owns 239,020 shares of the company’s stock worth $3,150,000 after buying an additional 154,673 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter worth approximately $1,176,000. Fox Run Management L.L.C. raised its stake in shares of MoonLake Immunotherapeutics by 531.2% during the fourth quarter. Fox Run Management L.L.C. now owns 71,962 shares of the company’s stock worth $948,000 after buying an additional 60,562 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of MoonLake Immunotherapeutics by 342.1% during the third quarter. JPMorgan Chase & Co. now owns 174,161 shares of the company’s stock worth $1,249,000 after buying an additional 134,764 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $19.02 on Friday. The firm has a market capitalization of $1.40 billion, a PE ratio of -4.91 and a beta of 1.04. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. 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 stock has a 50 day simple moving average of $18.97 and a 200 day simple moving average of $17.66.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). Sell-side analysts predict that MoonLake Immunotherapeutics will post -3.64 EPS for the current fiscal year.

Insider Buying and Selling

In other news, 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 value of $971,500.00. Following the sale, the insider owned 2,824,551 shares of the company’s stock, valued at $54,881,025.93. The trade was a 1.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 the business’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the completion of the sale, the chief executive officer directly owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 250,000 shares of company stock valued at $4,919,138. Insiders own 10.40% of the company’s stock.

Analyst Ratings Changes

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

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.