Point72 Asset Management L.P. Invests $5.35 Million in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Point72 Asset Management L.P. acquired a new position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 98,719 shares of the company's stock, valued at approximately $5,346,000. Point72 Asset Management L.P. owned about 0.15% of MoonLake Immunotherapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. FMR LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 28.1% in the 4th quarter. FMR LLC now owns 6,341,391 shares of the company's stock worth $343,386,000 after acquiring an additional 1,391,167 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in MoonLake Immunotherapeutics by 12.2% during 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 holdings in 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 in the last quarter. Federated Hermes Inc. lifted its holdings in MoonLake Immunotherapeutics by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company's stock worth $69,315,000 after buying an additional 149,724 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in MoonLake Immunotherapeutics by 7.9% during the 4th quarter. Marshall Wace LLP now owns 1,245,299 shares of the company's stock worth $67,433,000 after buying an additional 90,914 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MLTX has been the topic of a number of research reports. The Goldman Sachs Group reduced their target price on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada initiated coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $67.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. Finally, Wolfe Research raised shares of MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price objective on the stock in a research report on Monday, May 19th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $78.71.

MoonLake Immunotherapeutics Trading Up 1.1%

Shares of NASDAQ MLTX traded up $0.42 during mid-day trading on Friday, reaching $38.93. The company had a trading volume of 133,169 shares, compared to its average volume of 353,284. The firm has a 50 day simple moving average of $38.43 and a two-hundred day simple moving average of $44.37. The stock has a market cap of $2.49 billion, a P/E ratio of -30.18 and a beta of 1.31. MoonLake Immunotherapeutics has a 52-week low of $31.42 and a 52-week high of $58.26.

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