Balyasny Asset Management L.P. Lowers Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Balyasny Asset Management L.P. trimmed its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 42.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 206,568 shares of the company's stock after selling 153,632 shares during the period. Balyasny Asset Management L.P. owned about 0.32% of MoonLake Immunotherapeutics worth $11,186,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLTX. Birchview Capital LP bought a new position in MoonLake Immunotherapeutics during the fourth quarter worth about $217,000. KLP Kapitalforvaltning AS bought a new stake in MoonLake Immunotherapeutics in the 4th quarter valued at approximately $244,000. PEAK6 LLC bought a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at about $271,000. Mariner LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter valued at about $272,000. Finally, Barclays PLC raised its holdings in MoonLake Immunotherapeutics by 1,269.2% during the third quarter. Barclays PLC now owns 5,641 shares of the company's stock worth $283,000 after acquiring an additional 5,229 shares in the last quarter. 93.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MLTX has been the subject of a number of research analyst reports. HC Wainwright reiterated a "buy" rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. The Goldman Sachs Group cut their price target on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada initiated coverage on MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They set an "outperform" rating and a $67.00 target price on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Wednesday, April 30th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $80.50.

MoonLake Immunotherapeutics Stock Down 3.2 %

NASDAQ MLTX traded down $1.27 on Friday, reaching $38.47. The company had a trading volume of 273,563 shares, compared to its average volume of 355,541. MoonLake Immunotherapeutics has a 52-week low of $31.42 and a 52-week high of $58.26. The company's fifty day moving average is $38.43 and its 200 day moving average is $45.02. The stock has a market capitalization of $2.46 billion, a P/E ratio of -29.82 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.09). On average, research analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

MoonLake Immunotherapeutics 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.