Victory Capital Management Inc. Acquires 79,649 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Victory Capital Management Inc. boosted its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 44.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 258,150 shares of the company's stock after acquiring an additional 79,649 shares during the quarter. Victory Capital Management Inc. owned 0.40% of MoonLake Immunotherapeutics worth $10,086,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG increased its position in 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 acquiring an additional 338 shares during the period. Birchview Capital LP acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter valued at approximately $217,000. KLP Kapitalforvaltning AS acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter valued at approximately $244,000. PEAK6 LLC acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter valued at approximately $271,000. Finally, Mariner LLC acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter valued at approximately $272,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 3rd. Wedbush reaffirmed an "outperform" rating and issued a $80.00 target price (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Wolfe Research upgraded MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price objective for the company in a report on Monday, May 19th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $74.50.

MoonLake Immunotherapeutics Stock Performance

MLTX stock traded up $0.04 during trading on Friday, reaching $55.07. 386,713 shares of the stock were exchanged, compared to its average volume of 461,958. MoonLake Immunotherapeutics has a twelve month low of $31.42 and a twelve month high of $58.26. The company has a market capitalization of $3.53 billion, a P/E ratio of -23.94 and a beta of 1.27. The stock has a 50 day simple moving average of $45.81 and a 200-day simple moving average of $42.64. The company has a current ratio of 21.11, a quick ratio of 21.11 and a debt-to-equity ratio of 0.18.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.63) earnings per share for the quarter, beating analysts' consensus estimates of ($0.76) by $0.13. During the same period last year, the company earned ($0.22) EPS. As a group, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

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.