New York State Common Retirement Fund Buys New Shares in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Key Points

• The New York State Common Retirement Fund purchased 6,992 shares of MoonLake Immunotherapeutics, valued at approximately $273,000, during the 1st quarter of 2023.
• Institutional investors now own 93.85% of MoonLake Immunotherapeutics, with significant position increases from firms like FMR LLC and Paradigm Biocapital Advisors.
• Analysts have set a consensus price target of $74.50 for MoonLake Immunotherapeutics, with multiple brokerages maintaining a "buy" rating for the stock.

New York State Common Retirement Fund purchased a new position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,992 shares of the company's stock, valued at approximately $273,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC boosted its position in shares of MoonLake Immunotherapeutics by 28.1% during the 4th quarter. FMR LLC now owns 6,341,391 shares of the company's stock valued at $343,386,000 after acquiring an additional 1,391,167 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of MoonLake Immunotherapeutics by 12.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company's stock worth $181,059,000 after buying an additional 363,394 shares in the last quarter. Paradigm Biocapital Advisors LP lifted its position in shares of MoonLake Immunotherapeutics by 90.3% during the 4th 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 during the period. Federated Hermes Inc. grew its position in MoonLake Immunotherapeutics by 13.2% in the fourth quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company's stock valued at $69,315,000 after acquiring an additional 149,724 shares during the period. Finally, Marshall Wace LLP raised its stake in MoonLake Immunotherapeutics by 7.9% during the fourth quarter. Marshall Wace LLP now owns 1,245,299 shares of the company's stock worth $67,433,000 after acquiring an additional 90,914 shares in the last quarter. Institutional investors own 93.85% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on MLTX. Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. 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 report on Monday, May 19th. Royal Bank Of Canada restated an "outperform" rating and set a $67.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 3rd. Finally, Wedbush restated an "outperform" rating and issued a $80.00 price objective (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $74.50.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX opened at $55.07 on Friday. The firm's 50 day simple moving average is $46.16 and its 200 day simple moving average is $42.63. The company has a debt-to-equity ratio of 0.18, a current ratio of 21.11 and a quick ratio of 21.11. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -23.94 and a beta of 1.27. 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 issued 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 business earned ($0.22) earnings per share. As a group, sell-side analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share 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.

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