MoonLake Immunotherapeutics $MLTX is Cormorant Asset Management LP’s 10th Largest Position

Cormorant Asset Management LP lifted its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 118.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,355,433 shares of the company’s stock after buying an additional 2,361,260 shares during the period. MoonLake Immunotherapeutics makes up about 2.7% of Cormorant Asset Management LP’s portfolio, making the stock its 10th biggest holding. Cormorant Asset Management LP owned about 0.07% of MoonLake Immunotherapeutics worth $57,405,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Logos Global Management LP acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $23,065,000. AQR Capital Management LLC acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $433,000. Jain Global LLC acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $931,000. Trexquant Investment LP acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $2,429,000. Finally, Jump Financial LLC acquired a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at $5,609,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

Analyst Ratings Changes

MLTX has been the topic of several recent research reports. HC Wainwright restated a “buy” rating and set a $45.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday, June 8th. Zacks Research upgraded shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. BTIG Research restated a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from an “underperform” rating to an “outperform” rating and lifted their target price for the company from $12.00 to $24.00 in a report on Monday, March 23rd. Finally, Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $12.00 to $40.00 in a report on Thursday, March 19th. Nine equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.85.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $19.19 on Thursday. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75. The company has a debt-to-equity ratio of 0.39, a current ratio of 8.60 and a quick ratio of 8.60. The firm has a market capitalization of $1.41 billion, a P/E ratio of -4.96 and a beta of 1.04. The company’s fifty day moving average price is $17.90 and its two-hundred day moving average price is $16.58.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued 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, research analysts anticipate that MoonLake Immunotherapeutics will post -3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MoonLake Immunotherapeutics news, Director Bvf Partners L. P/Il sold 3,750,000 shares of the business’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $16.79, for a total value of $62,962,500.00. Following the transaction, the director owned 1,039,238 shares in the company, valued at $17,448,806.02. The trade was a 78.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Da Silva Jorge Santos sold 98,127 shares of the business’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $18.41, for a total transaction of $1,806,518.07. Following the completion of the transaction, the chief executive officer owned 2,976,766 shares in the company, valued at $54,802,262.06. This represents a 3.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,000,000 shares of company stock worth $67,630,663 in the last quarter. 12.02% of the stock is owned by corporate 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.