Rice Hall James & Associates LLC Increases Stake in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Rice Hall James & Associates LLC grew its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 23.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,516 shares of the company's stock after buying an additional 26,383 shares during the quarter. Rice Hall James & Associates LLC owned 0.21% of MoonLake Immunotherapeutics worth $5,373,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in MoonLake Immunotherapeutics by 17.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,236 shares of the company's stock worth $2,287,000 after purchasing an additional 6,422 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in MoonLake Immunotherapeutics during the fourth quarter worth about $244,000. Dimensional Fund Advisors LP purchased a new position in MoonLake Immunotherapeutics during the fourth quarter worth about $3,485,000. Teacher Retirement System of Texas boosted its holdings in MoonLake Immunotherapeutics by 18.4% during the fourth quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company's stock worth $354,000 after purchasing an additional 1,013 shares during the last quarter. Finally, Mariner LLC purchased a new position in MoonLake Immunotherapeutics in the fourth quarter valued at about $272,000. 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 analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Wedbush reaffirmed an "outperform" rating and set a $80.00 target price (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 target price on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 3rd. Finally, Wolfe Research raised shares of MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price target for the company in a research note on Monday, May 19th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MoonLake Immunotherapeutics presently has a consensus rating of "Buy" and a consensus target price of $74.50.

MoonLake Immunotherapeutics Price Performance

MLTX stock traded up $1.66 during midday trading on Thursday, reaching $54.18. The company had a trading volume of 571,325 shares, compared to its average volume of 385,386. The company has a debt-to-equity ratio of 0.18, a current ratio of 21.11 and a quick ratio of 21.11. MoonLake Immunotherapeutics has a 1 year low of $31.42 and a 1 year high of $58.26. The company has a market capitalization of $3.47 billion, a P/E ratio of -23.56 and a beta of 1.27. The firm has a 50-day moving average price of $44.23 and a 200-day moving average price of $42.61.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.76) by $0.13. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. On average, research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal 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.