Caitong International Asset Management Co. Ltd Increases Holdings in MoonLake Immunotherapeutics $MLTX

Caitong International Asset Management Co. Ltd increased its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 22,387.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,553 shares of the company’s stock after buying an additional 84,177 shares during the quarter. MoonLake Immunotherapeutics accounts for 0.4% of Caitong International Asset Management Co. Ltd’s portfolio, making the stock its 26th largest position. Caitong International Asset Management Co. Ltd owned about 0.13% of MoonLake Immunotherapeutics worth $606,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE raised its stake in shares of MoonLake Immunotherapeutics by 64.7% during the third quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock worth $32,000 after acquiring an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of MoonLake Immunotherapeutics by 115.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock valued at $42,000 after purchasing an additional 3,166 shares in the last quarter. Covestor Ltd bought a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter valued at $46,000. BNP Paribas Financial Markets grew its holdings in shares of MoonLake Immunotherapeutics by 18.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock valued at $52,000 after purchasing an additional 1,158 shares during the last quarter. Finally, Quarry LP raised its position in MoonLake Immunotherapeutics by 400.1% in the 3rd quarter. Quarry LP now owns 9,001 shares of the company’s stock worth $65,000 after purchasing an additional 7,201 shares during the period. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX opened at $16.77 on Wednesday. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -4.76 and a beta of 1.20. The company has a 50-day moving average price of $16.74 and a 200-day moving average price of $19.71. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.24. MoonLake Immunotherapeutics has a 12 month low of $5.95 and a 12 month high of $62.75.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Needham & Company LLC boosted their price target on shares of MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Oppenheimer lifted their price objective on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. HC Wainwright boosted their target price on MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. The Goldman Sachs Group cut MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and increased their target price for the company from $8.00 to $10.00 in a report on Wednesday, January 14th. Finally, Zacks Research upgraded MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.85.

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.