Principal Financial Group Inc. Invests $509,000 in MoonLake Immunotherapeutics $MLTX

Principal Financial Group Inc. purchased a new stake in MoonLake Immunotherapeutics (NASDAQ:MLTX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 70,943 shares of the company’s stock, valued at approximately $509,000. Principal Financial Group Inc. owned about 0.11% of MoonLake Immunotherapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the business. Vestal Point Capital LP boosted its stake in shares of MoonLake Immunotherapeutics by 175.0% during the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock valued at $25,960,000 after buying an additional 350,000 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in MoonLake Immunotherapeutics by 436.8% in the second quarter. Balyasny Asset Management L.P. now owns 423,170 shares of the company’s stock valued at $19,974,000 after acquiring an additional 344,335 shares in the last quarter. Millennium Management LLC boosted its stake in MoonLake Immunotherapeutics by 3,343.2% during the 1st quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock valued at $13,453,000 after acquiring an additional 334,320 shares during the last quarter. Decheng Capital LLC acquired a new position in MoonLake Immunotherapeutics during the 2nd quarter worth $8,572,000. Finally, Alliancebernstein L.P. increased its position in shares of MoonLake Immunotherapeutics by 17.8% in the 2nd quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock worth $53,715,000 after purchasing an additional 171,932 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on MLTX shares. Oppenheimer reiterated an “outperform” rating and issued a $30.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 6th. UBS Group set a $24.00 price target on MoonLake Immunotherapeutics in a research report on Friday, January 9th. Zacks Research cut MoonLake Immunotherapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Citigroup lowered shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group cut shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and increased their target price for the stock from $8.00 to $10.00 in a report on Wednesday, January 14th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.77.

MoonLake Immunotherapeutics Trading Down 1.5%

Shares of NASDAQ:MLTX opened at $18.17 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 8.50 and a current ratio of 8.50. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -5.47 and a beta of 1.21. MoonLake Immunotherapeutics has a 1-year low of $5.95 and a 1-year high of $62.75. The company has a 50 day moving average price of $15.16 and a 200 day moving average price of $24.73.

Insiders Place Their Bets

In related news, CEO Da Silva Jorge Santos sold 70,000 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $14.49, for a total value of $1,014,300.00. Following the completion of the transaction, the chief executive officer owned 2,878,577 shares in the company, valued at $41,710,580.73. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kristian Reich sold 72,908 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $14.43, for a total value of $1,052,062.44. The SEC filing for this sale provides additional information. Insiders have sold 402,908 shares of company stock worth $5,987,162 over the last ninety days. 12.02% of the stock is owned by insiders.

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.