Alliancebernstein L.P. Has $37.75 Million Stock Holdings in MoonLake Immunotherapeutics $MLTX

Key Points

• Alliancebernstein L.P. has reduced its stake in MoonLake Immunotherapeutics by 5.5%, now holding approximately 966,090 shares valued at $37.75 million.
• Several institutional investors have increased their positions in MoonLake, with Northern Trust Corp growing its holdings by 161.7% during the last quarter.
• Analysts generally maintain a positive outlook on MoonLake, with a consensus rating of "Moderate Buy" and an average price target of $74.43.

Alliancebernstein L.P. cut its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 966,090 shares of the company's stock after selling 56,514 shares during the period. Alliancebernstein L.P. owned about 1.51% of MoonLake Immunotherapeutics worth $37,745,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Deutsche Bank AG increased its holdings in shares of MoonLake Immunotherapeutics by 59.8% in the fourth quarter. Deutsche Bank AG now owns 903 shares of the company's stock worth $49,000 after acquiring an additional 338 shares in the last quarter. US Bancorp DE increased its holdings in shares of MoonLake Immunotherapeutics by 114.4% in the first quarter. US Bancorp DE now owns 2,208 shares of the company's stock worth $86,000 after acquiring an additional 1,178 shares in the last quarter. Quarry LP bought a new stake in shares of MoonLake Immunotherapeutics in the first quarter worth about $94,000. Advisors Asset Management Inc. increased its holdings in shares of MoonLake Immunotherapeutics by 81.7% in the first quarter. Advisors Asset Management Inc. now owns 4,009 shares of the company's stock worth $157,000 after acquiring an additional 1,803 shares in the last quarter. Finally, Legato Capital Management LLC bought a new stake in shares of MoonLake Immunotherapeutics in the first quarter worth about $240,000. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Stock Down 3.1%

Shares of NASDAQ:MLTX traded down $1.68 during mid-day trading on Friday, reaching $52.62. 864,952 shares of the stock were exchanged, compared to its average volume of 575,855. The company has a quick ratio of 16.65, a current ratio of 16.65 and a debt-to-equity ratio of 0.21. The company has a market cap of $3.38 billion, a P/E ratio of -18.93 and a beta of 1.27. MoonLake Immunotherapeutics has a one year low of $31.42 and a one year high of $61.87. The stock's 50 day simple moving average is $53.78 and its 200-day simple moving average is $45.14.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same quarter in the previous year, the business earned ($0.39) earnings per share. As a group, equities research analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Rothschild & Co Redburn assumed coverage on MoonLake Immunotherapeutics in a report on Monday, July 28th. They issued a "neutral" rating and a $65.00 price target for the company. Wolfe Research upgraded MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price target for the company in a report on Monday, May 19th. The Goldman Sachs Group increased their price target on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Redburn Atlantic upgraded MoonLake Immunotherapeutics to a "hold" rating in a report on Monday, July 28th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $67.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 3rd. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.43.

About MoonLake Immunotherapeutics

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.