Ameriprise Financial Inc. grew its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 28.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,373 shares of the company's stock after purchasing an additional 45,113 shares during the period. Ameriprise Financial Inc. owned approximately 0.32% of MoonLake Immunotherapeutics worth $11,065,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC lifted its position in MoonLake Immunotherapeutics by 28.1% during the 4th quarter. FMR LLC now owns 6,341,391 shares of the company's stock worth $343,386,000 after acquiring an additional 1,391,167 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in MoonLake Immunotherapeutics by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company's stock worth $181,059,000 after acquiring an additional 363,394 shares in the last quarter. Federated Hermes Inc. lifted its position in MoonLake Immunotherapeutics by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company's stock worth $69,315,000 after acquiring an additional 149,724 shares in the last quarter. Marshall Wace LLP lifted its position in MoonLake Immunotherapeutics by 7.9% during the 4th quarter. Marshall Wace LLP now owns 1,245,299 shares of the company's stock worth $67,433,000 after acquiring an additional 90,914 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in MoonLake Immunotherapeutics during the 4th quarter worth approximately $3,485,000. 93.85% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on MLTX shares. Wolfe Research upgraded MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price objective on the stock in a report on Monday, May 19th. Needham & Company LLC restated a "buy" rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. The Goldman Sachs Group lowered their price target on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Wedbush reiterated an "outperform" rating and issued a $80.00 price target (up from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Finally, Royal Bank of Canada started coverage on MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They issued an "outperform" rating and a $67.00 price target for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $78.71.
Get Our Latest Stock Report on MoonLake Immunotherapeutics
MoonLake Immunotherapeutics Trading Up 1.1%
MLTX traded up $0.42 during trading on Friday, reaching $38.93. 133,169 shares of the company were exchanged, compared to its average volume of 353,284. The stock has a market cap of $2.49 billion, a P/E ratio of -30.18 and a beta of 1.31. The firm has a 50 day moving average of $38.43 and a 200 day moving average of $44.41. MoonLake Immunotherapeutics has a 52 week low of $31.42 and a 52 week high of $58.26.
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 (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.13. During the same period in the prior year, the firm posted ($0.22) earnings per share. As a group, analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.
MoonLake Immunotherapeutics Company Profile
(
Free Report)
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.
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