Holocene Advisors LP Decreases Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Holocene Advisors LP lowered its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,585,167 shares of the company’s stock after selling 41,174 shares during the quarter. Holocene Advisors LP’s holdings in MoonLake Immunotherapeutics were worth $79,924,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of MoonLake Immunotherapeutics by 25.3% in the first quarter. Vanguard Group Inc. now owns 92,298 shares of the company’s stock worth $4,636,000 after purchasing an additional 18,641 shares in the last quarter. Victory Capital Management Inc. raised its stake in MoonLake Immunotherapeutics by 16.0% during the 2nd quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock valued at $7,681,000 after purchasing an additional 24,037 shares during the period. Rice Hall James & Associates LLC purchased a new position in MoonLake Immunotherapeutics in the 3rd quarter worth approximately $3,805,000. Harbor Capital Advisors Inc. raised its position in shares of MoonLake Immunotherapeutics by 100.2% during the third quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company’s stock valued at $3,906,000 after buying an additional 38,779 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of MoonLake Immunotherapeutics by 37.9% in the second quarter. The Manufacturers Life Insurance Company now owns 114,234 shares of the company’s stock worth $5,023,000 after buying an additional 31,401 shares in the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ:MLTX opened at $54.43 on Monday. The firm has a market capitalization of $3.48 billion, a PE ratio of -42.19 and a beta of 1.28. The business has a 50 day simple moving average of $50.27 and a two-hundred day simple moving average of $46.47. MoonLake Immunotherapeutics has a 1 year low of $37.55 and a 1 year high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted 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 period in the previous year, the company posted ($0.18) EPS. Equities research analysts expect that MoonLake Immunotherapeutics will post -1.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, Director Simon Sturge sold 171,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the sale, the director now owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. This represents a 49.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.02% of the stock is owned by insiders.

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.