MoonLake Immunotherapeutics(MLTX)Stock Analysis
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Pending next ranking run
This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.
Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.
MLTX Stock Analysis & AI Quality Score
AI stock analysis and institutional research for MoonLake Immunotherapeutics (MLTX), a Healthcare sector company. MLTX is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), MoonLake Immunotherapeutics reports net income of $-69.7M, free cash flow of $-66.3M. Top institutional holders of MLTX by reported 13-F value include BVF /IL, Deep Track Capital,, Cormorant Asset Management,, based on the most recent SEC filings. MLTX trades on the Nasdaq exchange and files with the SEC under CIK 1821586. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MLTX daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for MoonLake Immunotherapeutics directly from SEC EDGAR.
Net Income
Q1 2026
$-69.7M
Free Cash Flow
Q1 2026
$-66.3M
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Net Income
-91.1% YoYOperating Income
-71.1% YoYEPS (Diluted)
-86.8% YoYTotal Assets
-11.2% YoYTotal Debt
Op. Cash Flow
-68.1% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Net Income | $-227.3M -91.1% | $-118.9M -230.3% | $-36.0M +27.9% | $-50.0M -1000.1% | $-4.5M |
| Operating Income | $-244.8M -71.1% | $-143.1M -164.4% | $-54.1M +16.8% | $-65.1M -1323.6% | $-4.6M |
| EPS (Diluted) | $-3.53 -86.8% | $-1.89 -158.9% | $-0.73 +57.1% | $-1.70 | — |
| Total Assets | $424.4M -11.2% | $477.9M -9.2% | $526.5M +585.2% | $76.8M +693.6% | $9.7M |
| Total Debt | $74.1M | $0.00 | — | $0.00 -100.0% | $15.0M |
| Operating Cash Flow | $-196.0M -68.1% | $-116.6M -172.5% | $-42.8M +23.5% | $-55.9M -9046.9% | $-611.1K |
AI Insight: MLTX Financial Trends
MoonLake is burning cash at an accelerating rate with no revenue, eroding equity by 51% since Q2 2024 while debt has risen to $99M.
• Net losses widened from $24M in Q2 2024 to $70M in Q1 2026, with operating cash burn averaging $49M quarterly over eight quarters.
• Equity collapsed 51% from $521M to $254M; debt increased from $73M to $99M in past year, shrinking financial runway.
• Operating losses remain consistently deep ($47M–$71M range), with no inflection toward profitability visible across eight quarters.
⚠ Cash burn acceleration: Q1 2026 operating loss of $70M matches highest quarterly loss on record; equity base now critically depleted.
⚠ Zero reported revenue across all periods suggests clinical-stage or pre-commercial status; no near-term monetization signal evident.
AI Insight: MLTX Ratio Trends
MoonLake is burning cash at an accelerating rate, with ROE collapsing to -109.8% in Q1 2026 and leverage rising as losses mount.
• ROE deteriorated sharply from -39.2% in Q1 2025 to -109.8% in Q1 2026; ROIC fell from -39.5% to -79.3% over the same period.
• Debt-to-equity ratio climbed from 0.18 in Q1 2025 to 0.39 in Q1 2026, doubling as losses consumed equity capital.
• ROA worsened from -31.2% in Q1 2025 to -69.6% in Q1 2026, signaling severe asset productivity erosion.
⚠ Q3 2025 marked the worst quarter (ROE -96.5%, ROIC -78.8%), suggesting a critical operational inflection; monitor if Q1 2026 loss intensity continues.
⚠ Leverage spike from 0.26 to 0.39 in one quarter signals covenant risk or imminent need for capital raise if losses persist.
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Available Research
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Top Institutional Holders of MLTX
BVF INC/IL
$298.3M16,001,284 shDeep Track Capital, LP
$119.5M6,408,863 shCormorant Asset Management, LP
$83.5M4,480,433 shJANUS HENDERSON GROUP PLC
$64.3M3,451,628 shD. E. Shaw & Co., Inc.
$44.6M2,390,661 shMPM BioImpact LLC
$33.8M1,811,082 shWeiss Asset Management LP
$31.8M1,708,328 shLogos Global Management LP
$28.0M1,500,000 shPoint72 Asset Management, L.P.
$25.5M1,368,518 shCITADEL ADVISORS LLC
$24.7M1,323,728 sh
| Fund | Value | Shares |
|---|---|---|
| BVF INC/IL | $298.3M | 16,001,284 |
| Deep Track Capital, LP | $119.5M | 6,408,863 |
| Cormorant Asset Management, LP | $83.5M | 4,480,433 |
| JANUS HENDERSON GROUP PLC | $64.3M | 3,451,628 |
| D. E. Shaw & Co., Inc. | $44.6M | 2,390,661 |
| MPM BioImpact LLC | $33.8M | 1,811,082 |
| Weiss Asset Management LP | $31.8M | 1,708,328 |
| Logos Global Management LP | $28.0M | 1,500,000 |
| Point72 Asset Management, L.P. | $25.5M | 1,368,518 |
| CITADEL ADVISORS LLC | $24.7M | 1,323,728 |
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Popular Research
Is MLTX a good stock to buy?
13F Pro's AI-powered analysis of MoonLake Immunotherapeutics (MLTX) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for MLTX are available on the MLTX stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own MLTX?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling MLTX. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of MoonLake Immunotherapeutics's investment landscape.