Holocene Advisors LP Sells 41,174 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Holocene Advisors LP lowered its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,585,167 shares of the company’s stock after selling 41,174 shares during the quarter. Holocene Advisors LP owned about 2.48% of MoonLake Immunotherapeutics worth $79,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MLTX. US Bancorp DE purchased a new position in MoonLake Immunotherapeutics during the third quarter worth about $44,000. Quarry LP grew its holdings in shares of MoonLake Immunotherapeutics by 172.7% during the second quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $132,000 after purchasing an additional 1,900 shares in the last quarter. DNB Asset Management AS increased its position in shares of MoonLake Immunotherapeutics by 29.8% in the second quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock worth $324,000 after purchasing an additional 1,694 shares during the last quarter. Handelsbanken Fonder AB raised its stake in MoonLake Immunotherapeutics by 26.2% in the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after purchasing an additional 2,700 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new stake in MoonLake Immunotherapeutics during the third quarter valued at approximately $706,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Up 0.4 %

Shares of NASDAQ MLTX opened at $54.43 on Monday. The firm’s fifty day moving average is $50.27 and its 200 day moving average is $46.47. MoonLake Immunotherapeutics has a 52 week low of $37.55 and a 52 week high of $64.98. The company has a market cap of $3.48 billion, a price-to-earnings ratio of -42.19 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period last year, the company earned ($0.18) EPS. Equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the sale, the director now owns 171,980 shares of the company’s stock, valued at $9,238,765.60. This trade represents a 49.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MLTX. Needham & Company LLC reissued a “buy” rating and issued a $62.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Wedbush reiterated an “outperform” rating and set a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Finally, Wolfe Research downgraded MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

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.