Granahan Investment Management LLC Has $5.56 Million Stock Position in MoonLake Immunotherapeutics $MLTX

Key Points

• Granahan Investment Management LLC has increased its holdings in MoonLake Immunotherapeutics by 4.2%, acquiring an additional 5,782 shares, bringing their total ownership to 142,220 shares valued at approximately $5.56 million.
• Several institutional investors, including Advisors Asset Management Inc. and Birchview Capital LP, have also significantly raised their positions or acquired new stakes in the company during the first quarter.
• Despite the company's reported EPS of ($0.87) in the latest quarter, analysts maintain a generally positive outlook, with an average rating of "Moderate Buy" and a price target around $74.43.

Granahan Investment Management LLC increased its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 142,220 shares of the company's stock after purchasing an additional 5,782 shares during the quarter. Granahan Investment Management LLC owned approximately 0.22% of MoonLake Immunotherapeutics worth $5,557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLTX. Dimensional Fund Advisors LP acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter worth approximately $3,485,000. Northern Trust Corp lifted its holdings in MoonLake Immunotherapeutics by 161.7% in the 4th quarter. Northern Trust Corp now owns 14,261 shares of the company's stock worth $772,000 after purchasing an additional 8,811 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in MoonLake Immunotherapeutics by 28.3% in the 4th quarter. Ameriprise Financial Inc. now owns 204,373 shares of the company's stock worth $11,065,000 after purchasing an additional 45,113 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter worth approximately $413,000. Finally, Deutsche Bank AG lifted its holdings in MoonLake Immunotherapeutics by 59.8% in the 4th quarter. Deutsche Bank AG now owns 903 shares of the company's stock worth $49,000 after purchasing an additional 338 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX stock traded down $4.12 during trading hours on Tuesday, hitting $57.00. 716,987 shares of the company's stock were exchanged, compared to its average volume of 489,877. The stock's 50-day moving average is $53.17 and its 200-day moving average is $44.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 16.65 and a quick ratio of 16.65. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of -20.50 and a beta of 1.27. MoonLake Immunotherapeutics has a 52 week low of $31.42 and a 52 week high of $61.87.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same period in the prior year, the company posted ($0.39) earnings per share. As a group, research analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group boosted their target price on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wolfe Research raised MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price target on the stock in a research report on Monday, May 19th. Redburn Atlantic raised MoonLake Immunotherapeutics to a "hold" rating in a research report on Monday, July 28th. Rothschild & Co Redburn began coverage on MoonLake Immunotherapeutics in a research report on Monday, July 28th. They issued a "neutral" rating and a $65.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.43.

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.