MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 62.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,540 shares of the company's stock after selling 76,559 shares during the quarter. Bank of America Corp DE owned approximately 0.07% of MoonLake Immunotherapeutics worth $2,466,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MLTX. Congress Asset Management Co. increased 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 worth $3,953,000 after purchasing an additional 6,352 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter worth $244,000. Rice Hall James & Associates LLC grew its position in shares of MoonLake Immunotherapeutics by 47.3% during the 4th quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company's stock worth $6,018,000 after buying an additional 35,664 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of MoonLake Immunotherapeutics by 18.4% during the fourth quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company's stock valued at $354,000 after buying an additional 1,013 shares during the period. Finally, Mariner LLC purchased a new position in shares of MoonLake Immunotherapeutics during the fourth quarter valued at $272,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MLTX shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday. HC Wainwright restated a "buy" rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Wolfe Research raised shares of 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. Finally, The Goldman Sachs Group reduced their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, MoonLake Immunotherapeutics currently has an average rating of "Buy" and a consensus target price of $78.71.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX stock traded up $7.39 during mid-day trading on Tuesday, hitting $48.55. 3,950,263 shares of the stock traded hands, compared to its average volume of 365,948. MoonLake Immunotherapeutics has a 52-week low of $31.42 and a 52-week high of $58.26. The stock has a market cap of $3.11 billion, a P/E ratio of -37.64 and a beta of 1.31. The stock's fifty day moving average is $38.34 and its two-hundred day moving average is $43.84.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.13. During the same quarter in the prior year, the business posted ($0.22) EPS. As a group, equities analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

MoonLake Immunotherapeutics Company 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.