MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Bought 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. raised its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 58.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. FMR LLC boosted its position in shares of MoonLake Immunotherapeutics by 28.1% in the fourth quarter. FMR LLC now owns 6,341,391 shares of the company's stock worth $343,386,000 after buying an additional 1,391,167 shares during the period. Paradigm Biocapital Advisors LP raised its holdings in shares of MoonLake Immunotherapeutics by 90.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company's stock valued at $95,965,000 after buying an additional 840,731 shares during the period. Polar Capital Holdings Plc lifted its position in MoonLake Immunotherapeutics by 120.0% during the 4th quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company's stock worth $59,565,000 after acquiring an additional 600,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in MoonLake Immunotherapeutics by 12.2% in 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 during the period. Finally, Point72 Asset Management L.P. acquired a new stake in MoonLake Immunotherapeutics in the fourth quarter valued at approximately $5,346,000. Hedge funds and other institutional investors own 93.85% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on MLTX shares. Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 3rd. Needham & Company LLC restated a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Wedbush reaffirmed an "outperform" rating and set a $80.00 target price (up from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Redburn Atlantic upgraded MoonLake Immunotherapeutics to a "hold" rating in a research note on Monday, July 28th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.43.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock traded down $0.87 on Thursday, hitting $51.89. 296,159 shares of the stock traded hands, compared to its average volume of 485,175. The company has a market capitalization of $3.32 billion, a PE ratio of -18.67 and a beta of 1.27. The company's fifty day moving average is $48.60 and its 200 day moving average is $43.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 21.11 and a quick ratio of 21.11. 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 issued its earnings results on Tuesday, August 5th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same period in the previous 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.

MoonLake Immunotherapeutics 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.