AlphaCentric Advisors LLC Invests $706,000 in MoonLake Immunotherapeutics (NASDAQ:MLTX)

AlphaCentric Advisors LLC acquired a new position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,000 shares of the company's stock, valued at approximately $706,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. US Bancorp DE acquired a new position in MoonLake Immunotherapeutics during the 3rd quarter worth approximately $44,000. Quarry LP lifted its position in shares of MoonLake Immunotherapeutics by 172.7% during the second quarter. Quarry LP now owns 3,000 shares of the company's stock worth $132,000 after purchasing an additional 1,900 shares in the last quarter. Bellevue Group AG purchased a new position in shares of MoonLake Immunotherapeutics in the first quarter valued at $221,000. DNB Asset Management AS grew its holdings in MoonLake Immunotherapeutics by 29.8% during 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 in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in MoonLake Immunotherapeutics by 26.2% in 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 in the last quarter. Hedge funds and other institutional investors own 93.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wolfe Research lowered MoonLake Immunotherapeutics from an "outperform" rating to a "peer perform" rating in a research report on Monday, August 26th. Wedbush reissued an "outperform" rating and set a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Cantor Fitzgerald reissued an "overweight" rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Finally, HC Wainwright reiterated a "buy" rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $78.73.

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the company's stock in a transaction that occurred on Friday, October 4th. The stock was 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 directly owns 171,980 shares in the company, valued at $9,238,765.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.02% of the stock is currently owned by insiders.

MoonLake Immunotherapeutics Trading Up 2.5 %

MoonLake Immunotherapeutics stock traded up $1.17 during midday trading on Tuesday, reaching $47.57. 199,569 shares of the stock traded hands, compared to its average volume of 378,578. The firm has a fifty day moving average price of $49.08 and a two-hundred day moving average price of $45.20. MoonLake Immunotherapeutics has a fifty-two week low of $35.11 and a fifty-two week high of $64.98. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -50.64 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same quarter in the previous year, the company earned ($0.23) earnings per share. Analysts anticipate that MoonLake Immunotherapeutics will post -1.54 earnings per share for the current year.

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.