Y Intercept Hong Kong Ltd Boosts Position in MoonLake Immunotherapeutics $MLTX

Y Intercept Hong Kong Ltd increased its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 32.4% during the 1st quarter, HoldingsChannel reports. The fund owned 127,087 shares of the company’s stock after acquiring an additional 31,115 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in MoonLake Immunotherapeutics were worth $2,369,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MLTX. Kestra Advisory Services LLC acquired a new stake in MoonLake Immunotherapeutics during the fourth quarter worth about $26,000. FNY Investment Advisers LLC purchased a new position in MoonLake Immunotherapeutics during the third quarter worth about $28,000. Bank of America Corp DE boosted its holdings in MoonLake Immunotherapeutics by 64.7% in the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after purchasing an additional 1,781 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of MoonLake Immunotherapeutics by 115.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock valued at $42,000 after buying an additional 3,166 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of MoonLake Immunotherapeutics by 45.4% in the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after buying an additional 1,069 shares during the period. Hedge funds and other institutional investors own 93.85% of the company’s stock.

Insider Transactions at MoonLake Immunotherapeutics

In other news, CEO Da Silva Jorge Santos sold 47,775 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $20.03, for a total value of $956,933.25. Following the completion of the transaction, the chief executive officer owned 2,877,118 shares of the company’s stock, valued at approximately $57,628,673.54. This trade represents a 1.63% decrease in their ownership of the stock. The transaction 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, insider Kristian Reich sold 50,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred 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 completion of the transaction, the insider owned 2,824,551 shares of the company’s stock, valued at $54,881,025.93. This trade represents a 1.74% 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. Insiders have sold 297,775 shares of company stock worth $5,625,096 over the last quarter. Insiders own 12.02% of the company’s stock.

MoonLake Immunotherapeutics Trading Down 0.4%

Shares of NASDAQ MLTX opened at $19.07 on Thursday. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $1.40 billion, a PE ratio of -4.93 and a beta of 1.04. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The stock has a fifty day simple moving average of $18.45 and a 200-day simple moving average of $17.16.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Monday, May 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.07). On average, equities analysts forecast that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MLTX. Leerink Partners raised their price target on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. BTIG Research reiterated a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Wolfe Research raised MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and raised their target price for the stock from $12.00 to $24.00 in a research note on Monday, March 23rd. HC Wainwright restated a “buy” rating and issued a $45.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, June 8th. Finally, Rothschild & Co Redburn raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their price target for the company from $12.00 to $40.00 in a research note on Thursday, March 19th. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, MoonLake Immunotherapeutics presently has an average rating of “Hold” and an average price target of $24.21.

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.