Traders Buy High Volume of MoonLake Immunotherapeutics Call Options (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX) was the recipient of some unusual options trading activity on Thursday. Stock investors acquired 9,628 call options on the stock. This represents an increase of 52% compared to the typical daily volume of 6,322 call options.

Analysts Set New Price Targets

MLTX has been the topic of a number of research analyst reports. Citigroup lowered MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of MoonLake Immunotherapeutics in a report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $10.00 target price (down previously from $67.00) on shares of MoonLake Immunotherapeutics in a research note on Monday, September 29th. Jefferies Financial Group lowered MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a report on Monday, September 29th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $7.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday, October 1st. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.25.

Insider Transactions at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, major shareholder Bihua Chen sold 6,494,151 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $7.21, for a total value of $46,822,828.71. Following the completion of the transaction, the insider owned 2,000,000 shares in the company, valued at approximately $14,420,000. This represents a 76.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.02% of the stock is owned by insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of hedge funds have recently modified their holdings of MLTX. Geode Capital Management LLC raised its holdings in shares of MoonLake Immunotherapeutics by 0.9% during the second quarter. Geode Capital Management LLC now owns 59,553 shares of the company’s stock worth $2,809,000 after acquiring an additional 559 shares in the last quarter. Squarepoint Ops LLC increased its position in MoonLake Immunotherapeutics by 3.7% in the 2nd quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock worth $829,000 after purchasing an additional 629 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of MoonLake Immunotherapeutics by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,200 shares of the company’s stock worth $359,000 after purchasing an additional 700 shares in the last quarter. MPM Bioimpact LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 0.3% during the 1st quarter. MPM Bioimpact LLC now owns 316,049 shares of the company’s stock valued at $12,348,000 after buying an additional 819 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of MoonLake Immunotherapeutics by 18.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock valued at $52,000 after buying an additional 1,158 shares in the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Trading Up 9.2%

Shares of MLTX stock traded up $1.23 during trading hours on Thursday, reaching $14.58. 1,515,045 shares of the stock traded hands, compared to its average volume of 1,732,642. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The company has a quick ratio of 8.50, a current ratio of 8.50 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $936.47 million, a PE ratio of -4.42 and a beta of 1.21. The business has a fifty day moving average price of $12.65 and a 200 day moving average price of $36.94.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Wednesday, November 5th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.21). During the same period last year, the business earned ($0.56) earnings per share. On average, equities research analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

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.