Boxer Capital Management LLC Makes New Investment in MoonLake Immunotherapeutics $MLTX

Boxer Capital Management LLC purchased a new stake in MoonLake Immunotherapeutics (NASDAQ:MLTX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 250,000 shares of the company’s stock, valued at approximately $1,792,000. MoonLake Immunotherapeutics makes up about 0.6% of Boxer Capital Management LLC’s portfolio, making the stock its 25th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in MLTX. Bank of America Corp DE increased its holdings 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 worth $32,000 after purchasing an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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 bought a new stake in MoonLake Immunotherapeutics during the third quarter worth $46,000. BNP Paribas Financial Markets raised its position in MoonLake Immunotherapeutics by 18.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock valued at $52,000 after buying an additional 1,158 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at $74,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Up 0.6%

Shares of NASDAQ:MLTX opened at $17.13 on Friday. The firm has a fifty day moving average price of $16.52 and a two-hundred day moving average price of $20.50. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -4.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.27 and a quick ratio of 9.27. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.92) earnings per share for the quarter, hitting the consensus estimate of ($0.92). During the same quarter in the prior year, the firm earned ($0.72) earnings per share. Analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MLTX has been the topic of several recent analyst reports. Zacks Research upgraded MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Needham & Company LLC increased their target price on shares of MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Monday, February 23rd. UBS Group set a $24.00 price target on shares of MoonLake Immunotherapeutics in a research report on Friday, January 9th. The Goldman Sachs Group cut shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $8.00 to $10.00 in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada upped their price objective on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.85.

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.