This Fund Bought $28 Million of a Beaten-Down Immunotherapy Stock Last Quarter. What Should Long-Term Investors Know?

Cormorant Asset Management increased its MoonLake Immunotherapeutics position by 2,361,260 shares in the fourth quarter; the estimated trade value is $27.86 million based on average quarterly prices. The quarter-end value of the stake rose by $43.11 million, a figure reflecting both trading activity and stock price movement.