The Manufacturers Life Insurance Company Boosts Holdings in MoonLake Immunotherapeutics $MLTX

The Manufacturers Life Insurance Company grew its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 39.0% in the first quarter, HoldingsChannel reports. The fund owned 118,961 shares of the company’s stock after buying an additional 33,391 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MoonLake Immunotherapeutics were worth $2,217,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cormorant Asset Management LP boosted its position in shares of MoonLake Immunotherapeutics by 118.4% in the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock worth $57,405,000 after acquiring an additional 2,361,260 shares during the last quarter. Janus Henderson Group PLC increased its position in MoonLake Immunotherapeutics by 18,782.8% during the fourth quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock worth $27,657,000 after purchasing an additional 2,084,888 shares during the last quarter. Logos Global Management LP acquired a new position in MoonLake Immunotherapeutics during the fourth quarter worth approximately $23,065,000. Weiss Asset Management LP raised its stake in MoonLake Immunotherapeutics by 413.1% during the first quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock worth $31,843,000 after purchasing an additional 1,375,367 shares during the period. Finally, Vivo Capital LLC purchased a new position in MoonLake Immunotherapeutics during the fourth quarter worth approximately $13,180,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $18.26 on Monday. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75. The firm’s 50 day moving average price is $19.05 and its two-hundred day moving average price is $17.88. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -4.72 and a beta of 1.06.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data 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, analysts anticipate that MoonLake Immunotherapeutics will post -3.64 EPS for the current year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In related news, insider Kristian Reich sold 50,000 shares of the company’s stock in a transaction 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 sale, the insider directly owned 2,824,551 shares of the company’s stock, valued at approximately $54,881,025.93. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 company’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 sale, the chief executive officer directly owned 2,774,893 shares of the company’s stock, valued at approximately $55,553,357.86. This trade represents a 2.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 344,800 shares of company stock worth $6,820,071 in the last 90 days. Company insiders own 10.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.