Harbor Capital Advisors Inc. Buys 22,372 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Harbor Capital Advisors Inc. lifted its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 28.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,020 shares of the company's stock after purchasing an additional 22,372 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.16% of MoonLake Immunotherapeutics worth $3,986,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MLTX. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in MoonLake Immunotherapeutics in the fourth quarter valued at approximately $1,091,000. Jefferies Financial Group Inc. acquired a new position in MoonLake Immunotherapeutics in the 4th quarter worth $338,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of MoonLake Immunotherapeutics by 17.9% during the fourth 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 buying an additional 6,422 shares during the period. Woodline Partners LP grew its stake in shares of MoonLake Immunotherapeutics by 26.3% during the 4th quarter. Woodline Partners LP now owns 293,535 shares of the company's stock worth $15,895,000 after acquiring an additional 61,105 shares in the last quarter. Finally, Wexford Capital LP increased its stake in MoonLake Immunotherapeutics by 71.4% in the 4th quarter. Wexford Capital LP now owns 24,000 shares of the company's stock valued at $1,300,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 93.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. The Goldman Sachs Group dropped their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada restated an "outperform" rating and issued a $67.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 3rd. 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 report on Monday, May 19th. HC Wainwright reissued a "buy" rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Finally, Wedbush reaffirmed an "outperform" rating and set a $80.00 price target (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $78.71.

MoonLake Immunotherapeutics Trading Up 0.4%

MoonLake Immunotherapeutics stock traded up $0.19 during mid-day trading on Friday, reaching $44.21. The company had a trading volume of 316,243 shares, compared to its average volume of 383,465. The business has a fifty day simple moving average of $39.80 and a 200 day simple moving average of $43.71. The company has a market cap of $2.83 billion, a P/E ratio of -34.27 and a beta of 1.23. MoonLake Immunotherapeutics has a fifty-two week low of $31.42 and a fifty-two week 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 (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.13. During the same period last year, the company posted ($0.22) earnings per share. Research analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

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.