Readystate Asset Management LP Acquires New Position in MoonLake Immunotherapeutics $MLTX

Readystate Asset Management LP bought a new position in MoonLake Immunotherapeutics (NASDAQ:MLTX) in the first quarter, Holdings Channel reports. The firm bought 144,238 shares of the company’s stock, valued at approximately $2,689,000.

Other large investors also recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new position in MoonLake Immunotherapeutics during the 4th quarter valued at approximately $26,000. Bank of America Corp DE lifted 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 worth $32,000 after buying an additional 1,781 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 valued at $42,000 after buying an additional 3,166 shares during the last quarter. Russell Investments Group Ltd. raised its stake in MoonLake Immunotherapeutics by 45.4% in the 4th 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. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in MoonLake Immunotherapeutics during the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

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 stock was sold at an average price of $20.02, for a total value of $1,367,145.78. Following the sale, the chief executive officer owned 2,774,893 shares in the company, valued at approximately $55,553,357.86. This represents a 2.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 2,824,551 shares in the company, valued at $54,881,025.93. The trade was a 1.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 343,700 shares of company stock valued at $6,798,071 over the last three months. 10.40% of the stock is currently owned by corporate insiders.

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX opened at $18.71 on Wednesday. The firm has a market capitalization of $1.38 billion, a P/E ratio of -4.83 and a beta of 1.04. The stock has a 50-day simple moving average of $19.08 and a two-hundred day simple moving average of $17.81. The company has a debt-to-equity ratio of 0.39, a quick ratio of 8.60 and a current ratio of 8.60. MoonLake Immunotherapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Monday, May 11th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.07). On average, equities analysts forecast that MoonLake Immunotherapeutics will post -3.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating and issued a $30.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 9th. HC Wainwright reiterated a “buy” rating and issued a $45.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, July 20th. Needham & Company LLC raised their price target on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Finally, Leerink Partners lifted their price objective on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.21.

About MoonLake Immunotherapeutics

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.