TD Asset Management Inc Has $8.47 Million Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Key Points

• TD Asset Management Inc reduced its stake in MoonLake Immunotherapeutics by 17.1%, selling 44,730 shares and now holding 216,904 shares valued at approximately $8.47 million.
• The company's institutional ownership stands at an impressive 93.85%, indicating significant interest from large investors.
• Despite reporting a loss of ($0.63) earnings per share, MoonLake Immunotherapeutics beat analysts' expectations, with a majority rating of "Moderate Buy" from research analysts.

TD Asset Management Inc decreased its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 17.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 216,904 shares of the company's stock after selling 44,730 shares during the quarter. TD Asset Management Inc owned about 0.34% of MoonLake Immunotherapeutics worth $8,474,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Legato Capital Management LLC acquired a new stake in shares of MoonLake Immunotherapeutics during the first quarter worth $240,000. Victory Capital Management Inc. raised its position in shares of MoonLake Immunotherapeutics by 44.6% in the 1st quarter. Victory Capital Management Inc. now owns 258,150 shares of the company's stock worth $10,086,000 after buying an additional 79,649 shares during the period. Rice Hall James & Associates LLC raised its position in shares of MoonLake Immunotherapeutics by 23.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 137,516 shares of the company's stock worth $5,373,000 after buying an additional 26,383 shares during the period. New York State Common Retirement Fund purchased a new position in shares of MoonLake Immunotherapeutics in the 1st quarter worth $273,000. Finally, Envestnet Asset Management Inc. raised its position in shares of MoonLake Immunotherapeutics by 58.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 14,225 shares of the company's stock worth $556,000 after buying an additional 5,254 shares during the period. Institutional investors and hedge funds own 93.85% of the company's stock.

MoonLake Immunotherapeutics Stock Down 0.5%

Shares of NASDAQ MLTX traded down $0.28 during midday trading on Tuesday, reaching $53.04. 227,184 shares of the company's stock were exchanged, compared to its average volume of 484,728. MoonLake Immunotherapeutics has a 52-week low of $31.42 and a 52-week high of $58.26. The stock has a market capitalization of $3.39 billion, a PE ratio of -23.04 and a beta of 1.27. The company has a debt-to-equity ratio of 0.18, a quick ratio of 21.11 and a current ratio of 21.11. The business's fifty day moving average price is $47.75 and its two-hundred day moving average price is $42.92.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MLTX shares. Wedbush reaffirmed an "outperform" rating and issued a $80.00 target price (up from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Redburn Atlantic raised MoonLake Immunotherapeutics to a "hold" rating in a research report on Monday, July 28th. Rothschild & Co Redburn started coverage on MoonLake Immunotherapeutics in a research report on Monday, July 28th. They issued a "neutral" rating and a $65.00 target price on the stock. Wolfe Research raised MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 target price on the stock in a research report on Monday, May 19th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $67.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, MoonLake Immunotherapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.14.

MoonLake Immunotherapeutics Company 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.