Price T Rowe Associates Inc. MD Sells 369,813 Shares of MoonLake Immunotherapeutics $MLTX

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in MoonLake Immunotherapeutics by 11.1%, selling 369,813 shares during the first quarter, and now owns approximately 4.65% of the company.
• Several other institutional investors, including Paradigm Biocapital Advisors and Polar Capital Holdings, have significantly increased their stakes in MoonLake, highlighting strong interest from institutional investors.
• Analysts have given MoonLake Immunotherapeutics a consensus rating of "Moderate Buy" with price targets ranging from $61.00 to $80.00, indicating positive market sentiment.

Price T Rowe Associates Inc. MD trimmed its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 11.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,973,830 shares of the company's stock after selling 369,813 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 4.65% of MoonLake Immunotherapeutics worth $116,188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Paradigm Biocapital Advisors LP raised its position 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 purchasing an additional 840,731 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in shares of MoonLake Immunotherapeutics by 9.4% in the first quarter. Westfield Capital Management Co. LP now owns 1,434,770 shares of the company's stock valued at $56,056,000 after buying an additional 123,151 shares during the period. Polar Capital Holdings Plc increased its stake in shares of MoonLake Immunotherapeutics by 120.0% in the fourth quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company's stock valued at $59,565,000 after buying an additional 600,000 shares during the period. Fred Alger Management LLC increased its stake in shares of MoonLake Immunotherapeutics by 1.1% in the fourth quarter. Fred Alger Management LLC now owns 673,773 shares of the company's stock valued at $36,485,000 after buying an additional 7,199 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the first quarter valued at about $26,308,000. 93.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MLTX has been the subject of several recent analyst reports. 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 report on Monday, May 19th. Wedbush restated an "outperform" rating and issued a $80.00 price target (up from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 3rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Finally, Redburn Atlantic raised shares of MoonLake Immunotherapeutics to a "hold" rating in a research note on Monday, July 28th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $74.43.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $54.63 on Tuesday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of -19.65 and a beta of 1.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 16.65 and a current ratio of 16.65. MoonLake Immunotherapeutics has a 52 week low of $31.42 and a 52 week high of $58.26. The firm's 50-day simple moving average is $50.74 and its two-hundred day simple moving average is $43.79.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same period last year, the company earned ($0.39) EPS. As a group, equities 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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