Wellington Management Group LLP Lowers Holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Wellington Management Group LLP lessened its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 48.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,098 shares of the company's stock after selling 92,960 shares during the period. Wellington Management Group LLP owned approximately 0.15% of MoonLake Immunotherapeutics worth $5,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Congress Asset Management Co. grew its position in MoonLake Immunotherapeutics by 9.5% during the fourth quarter. Congress Asset Management Co. now owns 72,993 shares of the company's stock valued at $3,953,000 after buying an additional 6,352 shares during the period. Rice Hall James & Associates LLC grew its position in MoonLake Immunotherapeutics by 47.3% during the fourth quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company's stock valued at $6,018,000 after buying an additional 35,664 shares during the period. PNC Financial Services Group Inc. grew its position in MoonLake Immunotherapeutics by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company's stock valued at $460,000 after buying an additional 320 shares during the period. Teacher Retirement System of Texas grew its position 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 valued at $354,000 after buying an additional 1,013 shares during the period. Finally, Sei Investments Co. grew its position in MoonLake Immunotherapeutics by 5.8% during the fourth quarter. Sei Investments Co. now owns 22,025 shares of the company's stock valued at $1,193,000 after buying an additional 1,202 shares during the period. Hedge funds and other institutional investors own 93.85% of the company's stock.

MoonLake Immunotherapeutics Stock Down 4.0%

NASDAQ:MLTX traded down $1.95 on Friday, hitting $46.88. The stock had a trading volume of 881,415 shares, compared to its average volume of 378,396. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -36.34 and a beta of 1.23. The company has a fifty day moving average price of $39.15 and a two-hundred day moving average price of $43.87. MoonLake Immunotherapeutics has a 1-year low of $31.42 and a 1-year high of $58.26.

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

Analyst Ratings Changes

MLTX has been the topic of several analyst reports. Wedbush restated an "outperform" rating and set a $80.00 price target (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. HC Wainwright restated a "buy" rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. The Goldman Sachs Group dropped their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, Wolfe Research upgraded shares of 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. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of "Buy" and a consensus price target of $78.71.

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.