Ensign Peak Advisors Inc Sells 33,174 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Ensign Peak Advisors Inc reduced its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 78.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,139 shares of the company's stock after selling 33,174 shares during the quarter. Ensign Peak Advisors Inc's holdings in MoonLake Immunotherapeutics were worth $495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Barclays PLC raised its stake in MoonLake Immunotherapeutics by 1,269.2% during the 3rd quarter. Barclays PLC now owns 5,641 shares of the company's stock valued at $283,000 after purchasing an additional 5,229 shares during the period. Congress Asset Management Co. grew its holdings in MoonLake Immunotherapeutics by 9.5% during the 4th quarter. Congress Asset Management Co. now owns 72,993 shares of the company's stock valued at $3,953,000 after buying an additional 6,352 shares in the last quarter. Rice Hall James & Associates LLC grew its holdings in MoonLake Immunotherapeutics by 47.3% during the 4th quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company's stock valued at $6,018,000 after buying an additional 35,664 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of MoonLake Immunotherapeutics by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company's stock valued at $460,000 after buying an additional 320 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of MoonLake Immunotherapeutics by 18.4% in the fourth quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company's stock worth $354,000 after buying an additional 1,013 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MLTX has been the topic of a number of research reports. HC Wainwright reiterated a "buy" rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Royal Bank of Canada initiated coverage on MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They issued an "outperform" rating and a $67.00 target price on the stock. Wolfe Research raised MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price target for the company in a research note on Monday. Needham & Company LLC restated a "buy" rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group decreased their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $78.71.

MoonLake Immunotherapeutics Stock Up 2.8%

NASDAQ MLTX traded up $1.08 during trading hours on Tuesday, hitting $40.28. 244,937 shares of the company were exchanged, compared to its average volume of 355,564. The stock has a market cap of $2.58 billion, a PE ratio of -31.22 and a beta of 1.31. MoonLake Immunotherapeutics has a 52 week low of $31.42 and a 52 week high of $58.26. The stock has a 50-day moving average price of $38.40 and a 200 day moving average price of $44.65.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.13. During the same period in the previous year, the business posted ($0.22) EPS. As a group, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share 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.