BNP Paribas Financial Markets Buys New Stake in MoonLake Immunotherapeutics (NASDAQ:MLTX)

BNP Paribas Financial Markets acquired a new stake in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,633 shares of the company's stock, valued at approximately $413,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Birchview Capital LP purchased a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter worth about $217,000. KLP Kapitalforvaltning AS purchased a new position in MoonLake Immunotherapeutics during the fourth quarter valued at approximately $244,000. PEAK6 LLC purchased a new position in MoonLake Immunotherapeutics in the 4th quarter worth approximately $271,000. Mariner LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $272,000. Finally, Teacher Retirement System of Texas raised its stake 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 valued at $354,000 after acquiring an additional 1,013 shares during the period. Institutional investors own 93.85% of the company's stock.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX traded down $0.50 during midday trading on Friday, hitting $38.46. 11,082 shares of the stock traded hands, compared to its average volume of 350,001. The business's 50 day moving average price is $38.30 and its two-hundred day moving average price is $44.09. The firm has a market capitalization of $2.46 billion, a PE ratio of -29.64 and a beta of 1.31. MoonLake Immunotherapeutics has a 1-year low of $31.42 and a 1-year high of $58.26.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. The Goldman Sachs Group cut their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Wolfe Research upgraded 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. Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $67.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Finally, HC Wainwright reissued a "buy" rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $78.71.

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.