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

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

Several other institutional investors have also bought and sold shares of the company. Deutsche Bank AG lifted its holdings in MoonLake Immunotherapeutics by 59.8% during the 4th quarter. Deutsche Bank AG now owns 903 shares of the company's stock worth $49,000 after purchasing an additional 338 shares in the last quarter. Birchview Capital LP bought a new position in shares of MoonLake Immunotherapeutics in the 4th quarter worth $217,000. KLP Kapitalforvaltning AS bought a new position in shares of MoonLake Immunotherapeutics in the 4th quarter worth $244,000. PEAK6 LLC purchased a new stake in MoonLake Immunotherapeutics in the fourth quarter worth approximately $271,000. Finally, Mariner LLC purchased a new position in MoonLake Immunotherapeutics in the 4th quarter worth $272,000. Hedge funds and other institutional investors own 93.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MLTX shares. Wedbush reissued 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 reiterated a "buy" rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Wolfe Research upgraded shares of MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price objective for the company in a research note on Monday, May 19th. The Goldman Sachs Group reduced their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $78.71.

MoonLake Immunotherapeutics Trading Down 4.3%

MoonLake Immunotherapeutics stock traded down $2.22 during midday trading on Thursday, hitting $48.83. The stock had a trading volume of 1,381,442 shares, compared to its average volume of 376,008. MoonLake Immunotherapeutics has a 52-week low of $31.42 and a 52-week high of $58.26. The company has a market capitalization of $3.13 billion, a PE ratio of -37.85 and a beta of 1.31. The firm's fifty day moving average is $38.74 and its two-hundred day moving average is $43.93.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.13. During the same quarter in the prior year, the company earned ($0.22) EPS. As a group, equities research analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal 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.