MoonLake Immunotherapeutics (NASDAQ:MLTX) Sees Large Growth in Short Interest

MoonLake Immunotherapeutics (NASDAQ:MLTX) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 7,182,036 shares, a growth of 24.3% from the December 31st total of 5,776,842 shares. Currently, 12.7% of the company’s shares are short sold. Based on an average trading volume of 5,630,446 shares, the days-to-cover ratio is presently 1.3 days. Based on an average trading volume of 5,630,446 shares, the days-to-cover ratio is presently 1.3 days. Currently, 12.7% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group cut shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and increased their price target for the company from $8.00 to $10.00 in a research report on Wednesday, January 14th. Zacks Research downgraded shares of MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. UBS Group set a $24.00 target price on shares of MoonLake Immunotherapeutics in a report on Friday, January 9th. Oppenheimer reissued an “outperform” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 6th. Finally, BTIG Research raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Friday, January 9th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.77.

Insider Activity

In other news, insider Kristian Reich sold 72,908 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $14.43, for a total transaction of $1,052,062.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Da Silva Jorge Santos sold 70,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $14.49, for a total transaction of $1,014,300.00. Following the completion of the transaction, the chief executive officer owned 2,878,577 shares in the company, valued at $41,710,580.73. This represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 402,908 shares of company stock valued at $5,987,162 over the last 90 days. 12.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new position in shares of MoonLake Immunotherapeutics during the third quarter valued at approximately $28,000. Bank of America Corp DE increased its position in MoonLake Immunotherapeutics by 64.7% during the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after buying an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MoonLake Immunotherapeutics by 115.0% during the third 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 last quarter. Covestor Ltd purchased a new position in MoonLake Immunotherapeutics during the third quarter valued at $46,000. Finally, BNP Paribas Financial Markets boosted its holdings in MoonLake Immunotherapeutics by 18.9% in the third quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock worth $52,000 after acquiring an additional 1,158 shares in the last quarter. Institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Trading Up 0.8%

Shares of NASDAQ MLTX traded up $0.12 during midday trading on Monday, hitting $15.79. 1,570,608 shares of the company traded hands, compared to its average volume of 3,551,773. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The firm has a market cap of $1.01 billion, a P/E ratio of -4.76 and a beta of 1.20. The stock has a 50-day moving average price of $14.62 and a 200 day moving average price of $27.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 8.50 and a current ratio of 8.50.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.21). During the same quarter last year, the company earned ($0.56) earnings per share. As a group, analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immunomodulatory therapies for autoimmune and inflammatory diseases. The company leverages a proprietary platform designed to selectively modulate key immune cell populations, aiming to restore immune balance and reduce tissue damage with targeted biologic candidates.

Its lead asset, MLTX101, is a recombinant immune cell modulator in clinical development for myositis, including inclusion body myositis and dermatomyositis.