MoonLake Immunotherapeutics (NASDAQ:MLTX) Director Bvf Partners P/Il Sells 3,750,000 Shares of Stock

MoonLake Immunotherapeutics (NASDAQ:MLTX) Director Bvf Partners P/Il sold 3,750,000 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total transaction of $62,962,500.00. Following the transaction, the director owned 1,039,238 shares in the company, valued at approximately $17,448,806.02. The trade was a 78.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

MoonLake Immunotherapeutics Price Performance

MLTX opened at $17.36 on Friday. MoonLake Immunotherapeutics has a 1 year low of $5.95 and a 1 year high of $62.75. The company’s 50 day simple moving average is $16.94 and its 200 day simple moving average is $16.89. The stock has a market capitalization of $1.25 billion, a PE ratio of -4.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 9.27 and a current ratio of 9.27.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.92) EPS for the quarter, hitting the consensus estimate of ($0.92). During the same quarter last year, the business posted ($0.72) EPS. As a group, sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new position in MoonLake Immunotherapeutics in the 4th quarter worth $26,000. FNY Investment Advisers LLC acquired a new stake in shares of MoonLake Immunotherapeutics during the third quarter valued at about $28,000. Bank of America Corp DE grew 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 valued at $32,000 after acquiring an additional 1,781 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $42,000 after acquiring an additional 3,166 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of 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. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MLTX has been the subject of several research analyst reports. Rothschild & Co Redburn upgraded MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $12.00 to $40.00 in a research note on Thursday, March 19th. BTIG Research reiterated a “buy” rating and set a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Monday. Zacks Research raised shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Oppenheimer raised their price target on shares of MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Finally, UBS Group set a $24.00 price target on shares of MoonLake Immunotherapeutics in a research report on Friday, January 9th. Nine equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, MoonLake Immunotherapeutics has an average rating of “Hold” and a consensus price target of $23.08.

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.