Bvf Partners P/Il Sells 3,750,000 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) Director Bvf Partners P/Il sold 3,750,000 shares of the firm’s stock in a transaction on Tuesday, March 31st. The stock was 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 owned 1,039,238 shares of the company’s stock, valued at $17,448,806.02. This trade represents a 78.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX traded up $0.84 during mid-day trading on Thursday, hitting $17.36. The company’s stock had a trading volume of 1,686,263 shares, compared to its average volume of 2,008,499. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.24. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The firm has a market capitalization of $1.25 billion, a P/E ratio of -4.93 and a beta of 1.19. The firm has a 50-day simple moving average of $16.91 and a 200 day simple moving average of $16.88.

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

Institutional Trading of MoonLake Immunotherapeutics

A number of hedge funds have recently added to or reduced their stakes in MLTX. Cormorant Asset Management LP grew its stake in MoonLake Immunotherapeutics by 118.4% during the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after buying an additional 2,361,260 shares during the period. Janus Henderson Group PLC raised its stake in shares of MoonLake Immunotherapeutics by 18,782.8% in the 4th quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock valued at $27,657,000 after acquiring an additional 2,084,888 shares during the period. Logos Global Management LP acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $23,065,000. Alliancebernstein L.P. boosted its position in MoonLake Immunotherapeutics by 17.8% during the 2nd quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock worth $53,715,000 after purchasing an additional 171,932 shares during the period. Finally, Vivo Capital LLC purchased a new stake in MoonLake Immunotherapeutics during the 4th quarter worth $13,180,000. 93.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Rothschild & Co Redburn upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and increased their target price for the company from $12.00 to $40.00 in a report on Thursday, March 19th. UBS Group set a $24.00 price objective on MoonLake Immunotherapeutics in a research report on Friday, January 9th. Zacks Research raised MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Needham & Company LLC boosted their target price on shares of MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Finally, HC Wainwright upped their target price on shares of MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the company a “buy” rating in a 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 assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.08.

About MoonLake Immunotherapeutics

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.