HighVista Strategies LLC Grows Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

HighVista Strategies LLC lifted its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 3.1% during the third quarter, Holdings Channel reports. The fund owned 43,541 shares of the company’s stock after purchasing an additional 1,292 shares during the quarter. HighVista Strategies LLC’s holdings in MoonLake Immunotherapeutics were worth $2,195,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. US Bancorp DE purchased a new stake in shares of MoonLake Immunotherapeutics in the third quarter valued at $44,000. Quarry LP lifted its holdings in shares of MoonLake Immunotherapeutics by 172.7% during the 2nd quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $132,000 after acquiring an additional 1,900 shares during the period. DNB Asset Management AS boosted its holdings in shares of MoonLake Immunotherapeutics by 29.8% in the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock valued at $324,000 after purchasing an additional 1,694 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of MoonLake Immunotherapeutics by 26.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock worth $655,000 after buying an additional 2,700 shares during the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in MoonLake Immunotherapeutics during the third quarter valued at about $706,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. 12.02% of the stock is owned by insiders.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX opened at $55.47 on Tuesday. The firm’s 50 day moving average is $50.27 and its two-hundred day moving average is $46.57. MoonLake Immunotherapeutics has a 52 week low of $37.55 and a 52 week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same quarter in the prior year, the business earned ($0.18) earnings per share. On average, sell-side analysts predict that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.