MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Acquired by Northern Trust Corp

Northern Trust Corp lifted its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 161.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,261 shares of the company's stock after acquiring an additional 8,811 shares during the quarter. Northern Trust Corp's holdings in MoonLake Immunotherapeutics were worth $772,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in MoonLake Immunotherapeutics by 3.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company's stock valued at $460,000 after purchasing an additional 320 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of MoonLake Immunotherapeutics by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 58,950 shares of the company's stock valued at $3,192,000 after buying an additional 540 shares during the period. DnB Asset Management AS boosted its position 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 acquiring an additional 847 shares during the last quarter. Teacher Retirement System of Texas grew its stake in MoonLake Immunotherapeutics by 18.4% in the 4th quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company's stock worth $354,000 after acquiring an additional 1,013 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of 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 purchasing an additional 1,202 shares during the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Price Performance

MLTX traded up $0.10 during trading hours on Friday, reaching $39.06. 228,946 shares of the stock traded hands, compared to its average volume of 350,821. MoonLake Immunotherapeutics has a fifty-two week low of $31.42 and a fifty-two week high of $58.26. The company has a market cap of $2.50 billion, a price-to-earnings ratio of -30.28 and a beta of 1.31. The firm's fifty day simple moving average is $38.29 and its two-hundred day simple moving average is $43.96.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its earnings results 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 last year, the company earned ($0.22) EPS. On average, research analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on MLTX. HC Wainwright restated a "buy" rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $67.00 price target on the stock. Wolfe Research upgraded 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. Finally, The Goldman Sachs Group dropped their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $78.71.

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.