MoonLake Immunotherapeutics (NASDAQ:MLTX) Short Interest Down 14.2% in April

MoonLake Immunotherapeutics (NASDAQ:MLTX) saw a large decline in short interest in April. As of April 15th, there was short interest totaling 6,654,522 shares, a decline of 14.2% from the March 31st total of 7,757,169 shares. Based on an average daily volume of 1,569,884 shares, the short-interest ratio is presently 4.2 days. Approximately 10.5% of the shares of the stock are short sold.

Insider Buying and Selling

In related news, CEO Da Silva Jorge Santos sold 98,127 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $18.41, for a total value of $1,806,518.07. Following the transaction, the chief executive officer directly owned 2,976,766 shares of the company’s stock, valued at approximately $54,802,262.06. The trade was a 3.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bvf Partners L. P/Il sold 3,750,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $16.79, for a total value of $62,962,500.00. Following the completion of the transaction, the director directly owned 1,039,238 shares in the company, valued at approximately $17,448,806.02. This represents a 78.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 3,900,000 shares of company stock worth $65,714,663. 12.02% of the stock is owned by insiders.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Large investors have recently modified their holdings of the stock. Kestra Advisory Services LLC bought a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at approximately $26,000. Russell Investments Group Ltd. increased its position in shares of MoonLake Immunotherapeutics by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after purchasing an additional 1,069 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of MoonLake Immunotherapeutics during the 4th quarter valued at approximately $47,000. FNY Investment Advisers LLC bought a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter valued at approximately $28,000. Finally, Bank of America Corp DE increased its position in shares of MoonLake Immunotherapeutics by 64.7% during the 3rd quarter. Bank of America Corp DE now owns 4,532 shares of the company’s stock valued at $32,000 after purchasing an additional 1,781 shares during the last quarter. Institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX traded up $0.35 during mid-day trading on Friday, hitting $16.73. 858,433 shares of the stock were exchanged, compared to its average volume of 867,516. The company has a market cap of $1.20 billion, a PE ratio of -4.75 and a beta of 1.02. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. The firm has a 50-day moving average of $17.55 and a two-hundred day moving average of $14.96. 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 released its earnings results on Wednesday, February 25th. The company reported ($0.92) earnings per share for the quarter, meeting the consensus estimate of ($0.92). During the same period in the prior year, the company posted ($0.72) EPS. On average, equities analysts predict that MoonLake Immunotherapeutics will post -3.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on MLTX shares. The Goldman Sachs Group cut MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $8.00 to $10.00 in a report on Wednesday, January 14th. Needham & Company LLC upped their price objective on MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. UBS Group set a $24.00 price objective on MoonLake Immunotherapeutics in a report on Friday, January 9th. Zacks Research raised MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Oppenheimer upped 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. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.