Federated Hermes Inc. Has $49.59 Million Holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Key Points

• Federated Hermes Inc. reduced its stake in MoonLake Immunotherapeutics by 0.8%, now holding approximately 1.98% of the company valued at $49.6 million.
• MoonLake Immunotherapeutics reported adjusted earnings per share of ($0.63), exceeding analysts' estimates and showing a decline from the previous year's ($0.22) EPS.
• Wall Street analysts have generally positive outlooks on MoonLake, with the stock receiving several buy ratings and an average target price of $73.14.

Federated Hermes Inc. decreased its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,269,351 shares of the company's stock after selling 10,701 shares during the period. Federated Hermes Inc. owned approximately 1.98% of MoonLake Immunotherapeutics worth $49,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG boosted 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 acquiring an additional 338 shares in the last quarter. Geode Capital Management LLC boosted its holdings in MoonLake Immunotherapeutics by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 58,950 shares of the company's stock worth $3,192,000 after buying an additional 540 shares in the last quarter. DnB Asset Management AS boosted its holdings in MoonLake Immunotherapeutics by 11.3% during the fourth quarter. DnB Asset Management AS now owns 8,356 shares of the company's stock worth $452,000 after buying an additional 847 shares in the last quarter. Sei Investments Co. boosted its holdings in MoonLake Immunotherapeutics by 5.8% during the fourth quarter. Sei Investments Co. now owns 22,025 shares of the company's stock worth $1,193,000 after buying an additional 1,202 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in MoonLake Immunotherapeutics by 19.5% during the fourth quarter. LPL Financial LLC now owns 8,146 shares of the company's stock worth $441,000 after buying an additional 1,332 shares in the last quarter. Institutional investors own 93.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MLTX shares. Wedbush restated an "outperform" rating and set a $80.00 target price (up from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Redburn Atlantic upgraded shares of MoonLake Immunotherapeutics to a "hold" rating in a report on Monday, July 28th. Rothschild & Co Redburn began coverage on shares of MoonLake Immunotherapeutics in a report on Monday, July 28th. They set a "neutral" rating and a $65.00 target price for the company. Needham & Company LLC restated a "buy" rating and issued a $66.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Finally, 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.14.

MoonLake Immunotherapeutics Stock Up 1.0%

MLTX stock traded up $0.55 during midday trading on Monday, reaching $53.47. The company had a trading volume of 274,603 shares, compared to its average volume of 485,073. MoonLake Immunotherapeutics has a 1 year low of $31.42 and a 1 year high of $58.26. 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 company has a market capitalization of $3.42 billion, a P/E ratio of -23.27 and a beta of 1.27. The company has a 50 day moving average of $47.46 and a two-hundred day moving average of $42.86.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.76) by $0.13. During the same quarter in the previous year, the company posted ($0.22) earnings per share. On average, equities research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal 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.