MoonLake Immunotherapeutics $MLTX Shares Sold by Price T Rowe Associates Inc. MD

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 lowered its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 11.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,973,830 shares of the company's stock after selling 369,813 shares during the period. Price T Rowe Associates Inc. MD owned about 4.65% of MoonLake Immunotherapeutics worth $116,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Deutsche Bank AG raised its holdings in shares of MoonLake Immunotherapeutics by 59.8% in the 4th quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after purchasing an additional 338 shares in the last quarter. US Bancorp DE raised its stake in MoonLake Immunotherapeutics by 114.4% in the first quarter. US Bancorp DE now owns 2,208 shares of the company's stock valued at $86,000 after buying an additional 1,178 shares in the last quarter. Legato Capital Management LLC acquired a new stake in MoonLake Immunotherapeutics in the first quarter valued at $240,000. Mariner LLC acquired a new stake in MoonLake Immunotherapeutics in the fourth quarter valued at $272,000. Finally, New York State Common Retirement Fund acquired a new stake in MoonLake Immunotherapeutics in the first quarter valued at $273,000. Institutional investors and hedge funds own 93.85% of the company's stock.

MoonLake Immunotherapeutics Stock Performance

MLTX stock traded up $0.95 during trading on Friday, hitting $55.75. The company had a trading volume of 607,821 shares, compared to its average volume of 399,461. The firm has a market cap of $3.58 billion, a PE ratio of -20.05 and a beta of 1.27. MoonLake Immunotherapeutics has a 1-year low of $31.42 and a 1-year high of $58.26. The firm has a 50-day moving average price of $51.68 and a 200-day moving average price of $44.10. The company has a quick ratio of 16.65, a current ratio of 16.65 and a debt-to-equity ratio of 0.21.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.14). During the same quarter in the prior year, the business earned ($0.39) EPS. On average, analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MLTX has been the topic of several research analyst reports. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price target on the stock in a research note on Monday, May 19th. Rothschild & Co Redburn assumed coverage on shares of MoonLake Immunotherapeutics in a research note on Monday, July 28th. They set a "neutral" rating and a $65.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Redburn Atlantic upgraded MoonLake Immunotherapeutics to a "hold" rating in a research report on Monday, July 28th. Finally, The Goldman Sachs Group lifted their price target on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $74.43.

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.