Rice Hall James & Associates LLC Buys 40,301 Shares of MoonLake Immunotherapeutics $MLTX

Rice Hall James & Associates LLC lifted its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 31.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 167,766 shares of the company’s stock after buying an additional 40,301 shares during the quarter. Rice Hall James & Associates LLC’s holdings in MoonLake Immunotherapeutics were worth $3,127,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of MLTX. Cormorant Asset Management LP raised its holdings in MoonLake Immunotherapeutics by 118.4% in the 4th quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock valued at $57,405,000 after acquiring an additional 2,361,260 shares during the period. Janus Henderson Group PLC lifted 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 acquiring an additional 2,084,888 shares during the last quarter. Logos Global Management LP bought a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter worth approximately $23,065,000. Vivo Capital LLC bought a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter worth approximately $13,180,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of MoonLake Immunotherapeutics in the third quarter valued at approximately $6,922,000. Institutional investors own 93.85% of the company’s stock.

Wall Street Analysts Forecast Growth

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

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX opened at $19.02 on Monday. 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 company has a market cap of $1.40 billion, a price-to-earnings ratio of -4.91 and a beta of 1.04. The company has a 50 day moving average of $18.97 and a 200-day moving average of $17.70. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted 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). On average, equities research analysts expect that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kristian Reich sold 50,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $19.43, for a total value 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. The trade was a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 dated 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 $55,553,357.86. This represents a 2.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 250,000 shares of company stock worth $4,919,138 in the last 90 days. 10.40% of the stock is owned by company insiders.

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.