Legato Capital Management LLC Makes New Investment in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Key Points

• Legato Capital Management LLC has made a new investment of approximately $240,000 in MoonLake Immunotherapeutics by acquiring 6,142 shares during the first quarter.
• Several institutional investors, including FMR LLC and Paradigm Biocapital Advisors, significantly increased their holdings in MoonLake Immunotherapeutics during the fourth quarter, indicating strong investor interest.
• Research analysts are optimistic about MoonLake Immunotherapeutics, with multiple firms assigning an "outperform" rating and target prices ranging from $61.00 to $80.00, reflecting a consensus target of $74.50.

Legato Capital Management LLC acquired a new stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,142 shares of the company's stock, valued at approximately $240,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Deutsche Bank AG grew its holdings in shares of MoonLake Immunotherapeutics by 59.8% in the fourth quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after purchasing an additional 338 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of MoonLake Immunotherapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 58,950 shares of the company's stock valued at $3,192,000 after purchasing an additional 540 shares in the last quarter. DnB Asset Management AS grew its holdings in shares of MoonLake Immunotherapeutics by 11.3% in the fourth quarter. DnB Asset Management AS now owns 8,356 shares of the company's stock valued at $452,000 after purchasing an additional 847 shares in the last quarter. Teacher Retirement System of Texas grew its holdings 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 purchasing an additional 1,013 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of MoonLake Immunotherapeutics by 5.8% in the fourth quarter. Sei Investments Co. now owns 22,025 shares of the company's stock valued at $1,193,000 after purchasing an additional 1,202 shares in the last quarter. Institutional investors own 93.85% of the company's stock.

MoonLake Immunotherapeutics Trading Down 3.8%

Shares of MLTX traded down $2.08 during trading hours on Tuesday, reaching $52.39. 97,713 shares of the company traded hands, compared to its average volume of 473,796. The company has a current ratio of 21.11, a quick ratio of 21.11 and a debt-to-equity ratio of 0.18. The stock's fifty day moving average price is $46.47 and its 200 day moving average price is $42.65. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of -22.83 and a beta of 1.27. MoonLake Immunotherapeutics has a 12-month low of $31.42 and a 12-month high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.13. During the same period in the prior year, the company earned ($0.22) earnings per share. Sell-side analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MLTX shares. Needham & Company LLC reissued a "buy" rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Wedbush reaffirmed an "outperform" rating and set a $80.00 price objective (up from $78.00) 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 for the company in a research note on Monday, May 19th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 3rd. Finally, Rothschild & Co Redburn initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Monday. They set a "neutral" rating and a $65.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.14.

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.