Engineers Gate Manager LP Takes Position in MoonLake Immunotherapeutics $MLTX

Engineers Gate Manager LP acquired a new position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in the second quarter, HoldingsChannel reports. The fund acquired 111,590 shares of the company’s stock, valued at approximately $2,173,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cormorant Asset Management LP increased 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 in the last quarter. Weiss Asset Management LP raised its stake in shares of MoonLake Immunotherapeutics by 413.1% in the 1st quarter. Weiss Asset Management LP now owns 1,708,328 shares of the company’s stock valued at $31,843,000 after acquiring an additional 1,375,367 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of MoonLake Immunotherapeutics by 64.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,451,628 shares of the company’s stock valued at $64,304,000 after acquiring an additional 1,355,640 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of MoonLake Immunotherapeutics by 5,255.8% during the 1st quarter. Bank of America Corp DE now owns 724,794 shares of the company’s stock valued at $13,510,000 after acquiring an additional 711,261 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in MoonLake Immunotherapeutics by 2,414.8% during the 2nd quarter. California State Teachers Retirement System now owns 736,725 shares of the company’s stock worth $14,344,000 after purchasing an additional 707,429 shares during the period. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Trading Up 1.4%

NASDAQ MLTX opened at $12.68 on Tuesday. The stock has a market cap of $1.08 billion, a P/E ratio of -3.30 and a beta of 1.04. The company’s fifty day simple moving average is $17.14 and its 200-day simple moving average is $17.70. The company has a current ratio of 12.56, a quick ratio of 12.56 and a debt-to-equity ratio of 0.23. MoonLake Immunotherapeutics has a 52 week low of $5.95 and a 52 week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.84) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.07. Equities research analysts predict that MoonLake Immunotherapeutics will post -3.34 EPS for the current fiscal year.

Insider Transactions at MoonLake Immunotherapeutics

In other news, CEO Silva Santos sold 68,289 shares of MoonLake Immunotherapeutics 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 approximately $55,553,357.86. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $20.02, for a total value of $1,001,000.00. Following the completion of the transaction, the insider owned 2,714,746 shares in the company, valued at approximately $54,349,214.92. This trade represents a 1.81% decrease in their position. 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. Over the last three months, insiders sold 294,800 shares of company stock valued at $5,875,571. 10.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MLTX. BTIG Research reiterated a “buy” rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Weiss Ratings upgraded MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Leerink Partners upped 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. Finally, 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. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.57.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for inflammatory and immunologic diseases. The company’s approach is based on Nanobody technology, which is designed to create targeted therapies with potential advantages in tissue penetration and biological activity.

MoonLake’s lead product candidate is sonelokimab, a trivalent Nanobody designed to selectively inhibit interleukin-17A and interleukin-17F, two cytokines involved in inflammatory disease.