Headlands Technologies LLC Reduces Stock Holdings in MoonLake Immunotherapeutics $MLTX

Headlands Technologies LLC reduced its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 41.2% in the second quarter, HoldingsChannel reports. The firm owned 57,087 shares of the company’s stock after selling 40,046 shares during the quarter. Headlands Technologies LLC’s holdings in MoonLake Immunotherapeutics were worth $1,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kestra Advisory Services LLC bought a new position in shares of MoonLake Immunotherapeutics in the 4th quarter worth approximately $26,000. Bank of America Corp DE grew its position in 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 buying an additional 1,781 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in MoonLake Immunotherapeutics by 115.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,919 shares of the company’s stock valued at $42,000 after buying an additional 3,166 shares during the period. Russell Investments Group Ltd. grew its position in MoonLake Immunotherapeutics by 45.4% during the fourth quarter. Russell Investments Group Ltd. now owns 3,426 shares of the company’s stock valued at $45,000 after buying an additional 1,069 shares during the period. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in MoonLake Immunotherapeutics during the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

Analyst Ratings Changes

MLTX has been the topic of several recent research reports. Weiss Ratings upgraded shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Leerink Partners boosted their price objective on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Needham & Company LLC upped their price objective on MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. HC Wainwright raised their target price on MoonLake Immunotherapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.57.

MoonLake Immunotherapeutics Trading Up 0.4%

Shares of NASDAQ:MLTX opened at $15.05 on Tuesday. The stock has a 50 day moving average of $18.22 and a 200 day moving average of $17.92. The company has a market cap of $1.28 billion, a PE ratio of -3.92 and a beta of 1.06. The company has a current ratio of 12.56, a quick ratio of 12.56 and a debt-to-equity ratio of 0.23. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Monday, August 10th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $0.07. As a group, equities research analysts expect that MoonLake Immunotherapeutics will post -3.34 EPS for the current year.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 68,289 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $20.02, for a total value of $1,367,145.78. Following the completion of the transaction, the chief executive officer directly owned 2,774,893 shares in the company, valued at $55,553,357.86. This represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $19.43, for a total transaction of $971,500.00. Following the completion of the sale, the insider directly owned 2,824,551 shares of the company’s stock, valued at approximately $54,881,025.93. This trade represents a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 344,800 shares of company stock valued at $6,820,071. Company insiders own 10.40% of the company’s stock.

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.