MoonLake Immunotherapeutics

MLTX • NASDAQ

MoonLake Immunotherapeutics is a biotechnology company in the healthcare sector on NASDAQ, led by Jorge Santos da Silva, Ph.D., with a market cap of $1.1B. As of Q3 2025, 59% of shares are held by 132 institutional investors, with BVF INC/IL as the largest holder at 31.1%.

Chief Executive OfficerJorge Santos da Silva, Ph.D.

Market Cap$1.1B

Biotechnology

Healthcare

Employees50.0

Websitemoonlaketx.com

Country

United States of America

Overview

Overview of institutional ownership in MLTX as of Q3 2025 with a market cap of $455.3M

All Institutions

Institutions: 132
Value Held: $269.0M
Shares Held: 37.5M
Avg Position: $2.0M
Median Position: $191.4K

Hedge Funds

Hedge Funds: 29
Value Held: $52.9M
Shares Held: 7.4M
Avg Position: $1.8M
Median Position: $421.7K

Ownership Breakdown

Institutional (non-HF)

47.46%

$216.1M

Hedge Funds

11.62%

$52.9M

Retail & Other

40.92%

$186.3M

Based on market cap of $455.3M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in MLTX as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BVF INC/IL Institution	-	$141.6M 5.74% of portfolio	31.10% 19.8M shares	Q2 2022 Held for 3y 5m	$2.5B
venBio Select Advisor LLC RIA/Wealth	Behzad Aghazadeh Managing Partner	$14.3M 0.19% of portfolio	3.15% 2.0M shares	Q2 2023 Held for 2y 5m	$7.7B
C Cormorant Asset Management, LLC Hedge Fund•Long/Short	Bihua Chen CEO	$14.3M 1.11% of portfolio	3.14% 2.0M shares	Q2 2022 Held for 3y 5m	$1.3B
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dmitry Balyasny CIO	$12.2M 0.03% of portfolio	2.68% 1.7M shares	Q3 2022 Held for 3y 2m	$48.1B
A ADAGE CAPITAL PARTNERS GP LLC Institution	-	$10.8M 0.02% of portfolio	2.36% 1.5M shares	Q3 2025 Held for 2 months	$63.0B
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	Ryan Andrew Tolkin CEO	$6.9M 0.05% of portfolio	1.52% 965.4K shares	Q1 2023 Held for 2y 8m	$14.3B
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	Robert W Sharps President	$5.9M 0.00% of portfolio	1.30% 823.0K shares	Q2 2022 Held for 3y 5m	$912.31B
FMR LLC Institution	-	$5.2M 0.00% of portfolio	1.14% 726.9K shares	Q2 2022 Held for 3y 5m	$1.92T
N Nuveen, LLC Institution	-	$4.6M 0.00% of portfolio	1.00% 635.7K shares	Q1 2025 Held for 8 months	$377.89B
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	Carter Mayberry Lyons CEO	$3.3M 0.01% of portfolio	0.72% 454.3K shares	Q1 2025 Held for 8 months	$62.0B

Net Capital Flow

Institutional buying and selling activity for MLTX in Q3 2025

Net Flow: −$570.0M
Buyers: 42
Sellers: 86
Total Bought: +$33.2M
Total Sold: −$603.2M
Avg Position: $1.7M

Biggest Buyers

Institution	Net Bought	Current Position
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$9.1M +1.3M shares	$12.2M 1.7M shares
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	+$6.9M +965.4K shares	$6.9M 965.4K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$3.3M +454.3K shares	$3.3M 454.3K shares
F First Turn Management, LLC Hedge Fund•Long/Short	+$1.9M +262.6K shares	$1.9M 262.6K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	+$1.8M +249.2K shares	$2.0M 272.8K shares
MORGAN STANLEY RIA/Wealth	+$1.5M +213.4K shares	$1.8M 256.7K shares
Rhenman & Partners Asset Management AB RIA/Wealth	+$1.2M +162.0K shares	$1.5M 207.0K shares
SCHRODER INVESTMENT MANAGEMENT GROUP RIA/Wealth	+$1.1M +176.1K shares	$1.2M 195.5K shares
JPMORGAN CHASE & CO Institution	+$966.3K +134.8K shares	$1.2M 174.2K shares
A ADAR1 Capital Management, LLC Hedge Fund•Long/Short	+$840.2K +117.2K shares	$1.1M 151.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
WESTFIELD CAPITAL MANAGEMENT CO LP Long Only Manager	−$59.4M −1.3M shares	Sold Off 0 shares
FEDERATED INVESTORS INC /PA/ Long Only Manager	−$58.9M −1.2M shares	Sold Off 0 shares
ALLIANCEBERNSTEIN L.P. Long Only Manager	−$53.7M −1.1M shares	Sold Off 0 shares
C Cormorant Asset Management, LLC Hedge Fund•Long/Short	−$46.6M −6.5M shares	$14.3M 2.0M shares
Paradigm Biocapital Advisors LP Hedge Fund•Long/Short	−$41.5M −878.3K shares	Sold Off 0 shares
FMR LLC Institution	−$35.9M −5.0M shares	$5.2M 726.9K shares
RTW INVESTMENTS, LLC Hedge Fund•Sector	−$35.0M −741.1K shares	Sold Off 0 shares
Hood River Capital Management LLC Long Only Manager	−$31.9M −675.4K shares	Sold Off 0 shares
Vestal Point Capital, LP Hedge Fund•Long/Short	−$26.0M −550.0K shares	Sold Off 0 shares
S Siren, L.L.C. Institution	−$24.0M −508.3K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited MLTX in Q3 2025

New Positions: 24
New Value: $9.4M
Exited Positions: 46
Exited Value: $461.5M

New Positions

Institution	Position Value
Ikarian Capital, LLC Hedge Fund•Event Driven	$3.1M 435.8K shares
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$1.9M 258.8K shares
Boxer Capital Management, LLC Hedge Fund•Long/Short	$1.8M 250.0K shares
S SPHERA FUNDS MANAGEMENT LTD. Institution	$509.1K 71.0K shares
PRINCIPAL FINANCIAL GROUP INC Institution	$508.7K 70.9K shares
L Lion Point Capital, LP Hedge Fund•Event Driven	$484.0K 67.5K shares
Voleon Capital Management LP Hedge Fund•Quant	$288.8K 40.3K shares
T TWO SIGMA SECURITIES, LLC Institution	$261.0K 36.4K shares
A AXIOM INTERNATIONAL INVESTORS LLC /DE Long Only Manager	$180.5K 25.2K shares
M MYDA Advisors LLC Hedge Fund•Long/Short	$107.6K 15.0K shares

Exited Positions

Institution	Previous Position
WESTFIELD CAPITAL MANAGEMENT CO LP Long Only Manager	$59.4M 1.3M shares
FEDERATED INVESTORS INC /PA/ Long Only Manager	$58.9M 1.2M shares
ALLIANCEBERNSTEIN L.P. Long Only Manager	$53.7M 1.1M shares
Paradigm Biocapital Advisors LP Hedge Fund•Long/Short	$41.5M 878.3K shares
RTW INVESTMENTS, LLC Hedge Fund•Sector	$35.0M 741.1K shares
Hood River Capital Management LLC Long Only Manager	$31.9M 675.4K shares
Vestal Point Capital, LP Hedge Fund•Long/Short	$26.0M 550.0K shares
S Siren, L.L.C. Institution	$24.0M 508.3K shares
MPM Oncology Impact Management LP Institution	$14.8M 313.6K shares
F FRED ALGER MANAGEMENT INC Long Only Manager	$14.0M 295.6K shares

Options Activity

Institutions with the largest Call and Put options positions in MLTX as of Q3 2025

Call Positions: 27
Call Value: $29.6M
Put Positions: 12
Put Value: $11.0M

Call Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$5.8M 8.1K contracts
Ikarian Capital, LLC Hedge Fund•Event Driven	$4.4M 6.1K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.0M 5.5K contracts
Caption Management, LLC Hedge Fund•Long/Short	$2.8M 4.0K contracts
TORONTO DOMINION BANK Institution	$2.3M 3.2K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.2M 3.0K contracts
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$1.7M 2.4K contracts
Walleye Trading LLC RIA/Wealth	$1.0M 1.5K contracts
Centiva Capital, LP Hedge Fund•Multi-Strategy	$952.9K 1.3K contracts
SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC Hedge Fund•Long/Short	$717.0K 1.0K contracts

Put Positions

Institution	Position Value
Ikarian Capital, LLC Hedge Fund•Event Driven	$3.2M 4.5K contracts
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$1.9M 2.6K contracts
Caption Management, LLC Hedge Fund•Long/Short	$1.8M 2.5K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.4M 2.0K contracts
L LMR Partners LLP Institution	$1.0M 1.5K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$775.1K 1.1K contracts
Walleye Trading LLC RIA/Wealth	$430.9K 601.0 contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$222.3K 310.0 contracts
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	$143.4K 200.0 contracts
N NOMURA HOLDINGS INC Institution	$71.7K 100.0 contracts

Most Committed Institutions

Institutions with MLTX as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
B BVF INC/IL Institution	-	5.74% $141.6M	31.10% 19.8M shares	Q2 2022 Held for 3y 5m	$2.5B
L Lion Point Capital, LP Hedge Fund•Event Driven	Carl Didric Marcus Cederholm CIO	2.75% $484.0K	0.11% 67.5K shares	Q3 2025 Held for 2 months	$17.6M
C Cormorant Asset Management, LLC Hedge Fund•Long/Short	Bihua Chen CEO	1.11% $14.3M	3.14% 2.0M shares	Q2 2022 Held for 3y 5m	$1.3B
Exome Asset Management LLC Hedge Fund•Sector	Alex R Forschner President	0.86% $1.3M	0.28% 178.1K shares	Q3 2025 Held for 2 months	$148.0M
Ikarian Capital, LLC Hedge Fund•Event Driven	Neil Tristan Shahrestani CEO	0.63% $3.1M	0.69% 435.8K shares	Q1 2025 Held for 8 months	$494.3M
Boxer Capital Management, LLC Hedge Fund•Long/Short	Aaron Isaac Davis CEO	0.59% $1.8M	0.39% 250.0K shares	Q3 2025 Held for 2 months	$303.5M
Caitong International Asset Management Co., Ltd RIA/Wealth	Dusan Thomas Zachystal CEO	0.42% $606.2K	0.13% 84.6K shares	Q1 2025 Held for 8 months	$144.7M
F First Turn Management, LLC Hedge Fund•Long/Short	Lisa Gable Wheatley Managing Partner	0.28% $1.9M	0.41% 262.6K shares	Q1 2025 Held for 8 months	$666.0M
Decheng Capital LLC Venture Capital	Xiangmin Nmn Cui Managing Partner	0.23% $1.3M	0.29% 181.6K shares	Q1 2024 Held for 1y 8m	$573.2M
venBio Select Advisor LLC RIA/Wealth	Behzad Aghazadeh Managing Partner	0.19% $14.3M	3.15% 2.0M shares	Q2 2023 Held for 2y 5m	$7.7B