Cormorant Asset Management’s MoonLake Immunotherapeutics MLTX Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$83.5M	Buy	4,480,433 +125,000	+3%	+$2.07M	4.21%	9
2025 Q4	$57.4M	Buy	4,355,433 +2,361,260	+118%	+$27.9M	3.25%	13
2025 Q3	$14.3M	Sell	1,994,173 -6,499,978	-77%	-$339M	0.99%	25
2025 Q2	$401M	Hold	8,494,151	–	–	29.86%	1
2025 Q1	$332M	Hold	8,494,151	–	–	25.13%	1
2024 Q4	$460M	Hold	8,494,151	–	–	25.26%	1
2024 Q3	$428M	Hold	8,494,151	–	–	22.71%	1
2024 Q2	$373M	Hold	8,494,151	–	–	21.72%	1
2024 Q1	$427M	Hold	8,494,151	–	–	18.8%	1
2023 Q4	$513M	Buy	8,494,151 +352,051	+4%	+$18.1M	24.56%	1
2023 Q3	$464M	Hold	8,142,100	–	–	27.07%	1
2023 Q2	$415M	Buy	8,142,100 +1,249,999	+18%	+$33.6M	23.65%	1
2023 Q1	$147M	Buy	6,892,101 +827,100	+14%	+$13.9M	9.71%	2
2022 Q4	$63.7M	Hold	6,065,001	–	–	4.28%	4
2022 Q3	$47.1M	Hold	6,065,001	–	–	3.31%	6
2022 Q2	$30.9M	Buy	6,065,001 +2,785,001	+85%	+$17.5M	2.4%	11
2022 Q1	$33.3M	Buy	3,280,000 +2,850,000	+663%	+$28.4M	2.55%	14
2021 Q4	$4.25M	Hold	430,000	–	–	0.25%	57
2021 Q3	$4.28M	Hold	430,000	–	–	0.17%	72
2021 Q2	$4.45M	Hold	430,000	–	–	0.17%	84
2021 Q1	$4.39M	Hold	430,000	–	–	0.13%	98
2020 Q4	$4.74M	Buy	+430,000	New	+$4.57M	0.14%	88