Russell Investments Group Ltd. Has $213,000 Position in MoonLake Immunotherapeutics $MLTX

Key Points

• Russell Investments Group Ltd. significantly decreased its stake in MoonLake Immunotherapeutics, reducing its holdings by 90.2% during the first quarter, resulting in a total of 5,460 shares valued at $213,000.
• Multiple institutional investors have altered their stakes in MoonLake Immunotherapeutics, with Paradigm Biocapital Advisors LP increasing its holdings by 90.3% in the fourth quarter, now owning shares worth approximately $95.97 million.
• MoonLake Immunotherapeutics reported a quarterly EPS of ($0.87), which missed analysts' expectations, while analysts maintain a "Moderate Buy" rating for the stock with an average price target of $74.43.

Russell Investments Group Ltd. reduced its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 90.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,460 shares of the company's stock after selling 50,430 shares during the quarter. Russell Investments Group Ltd.'s holdings in MoonLake Immunotherapeutics were worth $213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Paradigm Biocapital Advisors LP lifted its holdings in MoonLake Immunotherapeutics by 90.3% in 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 lifted its holdings in shares of MoonLake Immunotherapeutics by 9.4% during the first quarter. Westfield Capital Management Co. LP now owns 1,434,770 shares of the company's stock worth $56,056,000 after buying an additional 123,151 shares during the last quarter. Polar Capital Holdings Plc lifted its holdings in shares of MoonLake Immunotherapeutics by 120.0% during the fourth quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company's stock worth $59,565,000 after buying an additional 600,000 shares during the last quarter. Fred Alger Management LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 1.1% during the fourth quarter. Fred Alger Management LLC now owns 673,773 shares of the company's stock worth $36,485,000 after buying an additional 7,199 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of MoonLake Immunotherapeutics during the first quarter worth approximately $26,308,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX opened at $58.56 on Wednesday. The business has a fifty day simple moving average of $52.16 and a 200 day simple moving average of $44.29. The company has a current ratio of 16.65, a quick ratio of 16.65 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of -21.06 and a beta of 1.27. MoonLake Immunotherapeutics has a one year low of $31.42 and a one year high of $58.99.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.87) EPS for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.14). During the same quarter last year, the business posted ($0.39) earnings per share. Sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Needham & Company LLC reiterated a "buy" rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Redburn Atlantic upgraded MoonLake Immunotherapeutics to a "hold" rating in a report on Monday, July 28th. Royal Bank Of Canada reiterated an "outperform" rating and set a $67.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 3rd. The Goldman Sachs Group upped their price target on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Wedbush reiterated an "outperform" rating and set a $80.00 price target (up from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics presently has an average 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.

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