UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 6,422 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 17.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,236 shares of the company's stock after purchasing an additional 6,422 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.07% of MoonLake Immunotherapeutics worth $2,287,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Woodline Partners LP raised its stake in shares of MoonLake Immunotherapeutics by 26.3% during the fourth quarter. Woodline Partners LP now owns 293,535 shares of the company's stock valued at $15,895,000 after purchasing an additional 61,105 shares in the last quarter. Wexford Capital LP increased its position in MoonLake Immunotherapeutics by 71.4% during the fourth quarter. Wexford Capital LP now owns 24,000 shares of the company's stock worth $1,300,000 after buying an additional 10,000 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter valued at about $5,346,000. Polar Capital Holdings Plc lifted its holdings in shares of MoonLake Immunotherapeutics by 120.0% during the fourth quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company's stock worth $59,565,000 after buying an additional 600,000 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP grew its position in MoonLake Immunotherapeutics by 90.3% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company's stock worth $95,965,000 after buying an additional 840,731 shares in the last quarter. Institutional investors and hedge funds own 93.85% of the company's stock.

Wall Street Analyst Weigh In

MLTX has been the subject of several recent analyst reports. Wedbush reiterated 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. The Goldman Sachs Group dropped their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Wolfe Research upgraded 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. 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. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $67.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 3rd. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $78.71.

MoonLake Immunotherapeutics Stock Down 1.2%

MLTX stock traded down $0.55 during trading on Tuesday, hitting $46.07. The company had a trading volume of 561,475 shares, compared to its average volume of 380,541. The firm has a 50-day moving average price of $39.48 and a 200-day moving average price of $43.78. MoonLake Immunotherapeutics has a 12 month low of $31.42 and a 12 month high of $58.26. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of -35.71 and a beta of 1.23.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings results 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 in the prior year, the firm posted ($0.22) earnings per share. Equities analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current 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.