Headlands Technologies LLC Cuts Stake in MoonLake Immunotherapeutics $MLTX

Headlands Technologies LLC cut its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 41.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,087 shares of the company’s stock after selling 40,046 shares during the quarter. Headlands Technologies LLC owned about 0.07% of MoonLake Immunotherapeutics worth $1,111,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MLTX. Kestra Advisory Services LLC bought a new position in MoonLake Immunotherapeutics in the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC raised its holdings in MoonLake Immunotherapeutics by 221.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,867 shares of the company’s stock worth $53,000 after buying an additional 1,974 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in MoonLake Immunotherapeutics in the second quarter worth about $58,000. Russell Investments Group Ltd. lifted its stake in shares of MoonLake Immunotherapeutics by 45.4% in the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after buying an additional 1,069 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth approximately $47,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Price Performance

MLTX opened at $15.05 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 12.56 and a current ratio of 12.56. The stock has a market capitalization of $1.28 billion, a P/E ratio of -3.92 and a beta of 1.06. The company’s 50-day simple moving average is $18.22 and its two-hundred day simple moving average is $17.92. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.07. As a group, analysts predict that MoonLake Immunotherapeutics will post -3.34 EPS for the current year.

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 68,289 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $20.02, for a total transaction of $1,367,145.78. Following the completion of the sale, the chief executive officer directly owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. The trade was a 2.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $20.02, for a total value of $1,001,000.00. Following the transaction, the insider directly owned 2,714,746 shares in the company, valued at $54,349,214.92. The trade was a 1.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 344,800 shares of company stock worth $6,820,071 in the last 90 days. 10.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MLTX has been the topic of a number of recent analyst reports. Leerink Partners increased their price target on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Needham & Company LLC upped their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. HC Wainwright increased their target price on MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Finally, BTIG Research reissued a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a report 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.57.

MoonLake Immunotherapeutics Company 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.