Renaissance Technologies LLC Boosts Stock Holdings in MoonLake Immunotherapeutics $MLTX

Renaissance Technologies LLC grew its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 105.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 276,772 shares of the company’s stock after buying an additional 142,300 shares during the quarter. Renaissance Technologies LLC’s holdings in MoonLake Immunotherapeutics were worth $5,159,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in MLTX. Kestra Advisory Services LLC purchased a new position in shares of MoonLake Immunotherapeutics in the 4th quarter worth $26,000. Bank of America Corp DE grew its position in MoonLake Immunotherapeutics by 64.7% during the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after acquiring an additional 1,781 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 acquiring an additional 3,166 shares during the period. Russell Investments Group Ltd. increased its stake in MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock worth $45,000 after acquiring an additional 1,069 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in MoonLake Immunotherapeutics during the fourth quarter worth about $47,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MLTX shares. Needham & Company LLC raised their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. HC Wainwright reissued a “buy” rating and set a $45.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, July 20th. BTIG Research restated a “buy” rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Finally, Leerink Partners lifted their price target on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Hold” and an average target price of $24.21.

Insider Activity

In related news, CEO Da Silva Jorge Santos sold 68,289 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 that occurred on 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 transaction, the insider directly owned 2,714,746 shares in the company, valued at $54,349,214.92. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 344,800 shares of company stock worth $6,820,071. Company insiders own 10.40% of the company’s stock.

MoonLake Immunotherapeutics Stock Down 2.1%

Shares of NASDAQ MLTX opened at $17.55 on Thursday. The stock has a fifty day moving average price of $19.09 and a 200 day moving average price of $17.86. The company has a current ratio of 8.60, a quick ratio of 8.60 and a debt-to-equity ratio of 0.39. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The company has a market cap of $1.29 billion, a P/E ratio of -4.53 and a beta of 1.06.

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). Research analysts anticipate that MoonLake Immunotherapeutics will post -3.64 EPS for the current fiscal year.

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.