MoonLake Immunotherapeutics (NASDAQ:MLTX) Stake Lifted by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. increased its holdings in MoonLake Immunotherapeutics by 58.6%, acquiring an additional 5,254 shares, bringing their total to 14,225 shares, valued at approximately $556,000.
• Institutional investors hold 93.85% of MoonLake Immunotherapeutics' stock, with significant investments from firms such as Moody Aldrich Partners LLC and Harbor Capital Advisors Inc.
• Multiple analysts have established new price targets for MoonLake Immunotherapeutics, with a consensus rating of "Moderate Buy" and a target price averaging $73.14.

Envestnet Asset Management Inc. lifted its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 58.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,225 shares of the company's stock after purchasing an additional 5,254 shares during the quarter. Envestnet Asset Management Inc.'s holdings in MoonLake Immunotherapeutics were worth $556,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Moody Aldrich Partners LLC acquired a new position in MoonLake Immunotherapeutics during the 1st quarter worth approximately $2,158,000. Harbor Capital Advisors Inc. lifted its position in MoonLake Immunotherapeutics by 28.1% during the 1st quarter. Harbor Capital Advisors Inc. now owns 102,020 shares of the company's stock worth $3,986,000 after acquiring an additional 22,372 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in MoonLake Immunotherapeutics during the 4th quarter worth approximately $1,091,000. Jefferies Financial Group Inc. acquired a new position in MoonLake Immunotherapeutics during the 4th quarter worth approximately $338,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in MoonLake Immunotherapeutics by 17.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,236 shares of the company's stock worth $2,287,000 after acquiring an additional 6,422 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company's stock.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock traded up $0.51 on Friday, hitting $52.40. 274,326 shares of the stock traded hands, compared to its average volume of 518,204. The company has a debt-to-equity ratio of 0.21, a current ratio of 16.65 and a quick ratio of 21.11. The company has a market capitalization of $3.35 billion, a PE ratio of -18.85 and a beta of 1.27. MoonLake Immunotherapeutics has a 1-year low of $31.42 and a 1-year high of $58.26. The company's fifty day moving average is $48.87 and its 200 day moving average is $43.16.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Rothschild & Co Redburn assumed coverage on MoonLake Immunotherapeutics in a research report on Monday, July 28th. They issued a "neutral" rating and a $65.00 target price on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $67.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 3rd. The Goldman Sachs Group upped their target price on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Wolfe Research raised MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 target price on the stock in a research report on Monday, May 19th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.