Wellington Management Group LLP Has $1.26 Million Position in MoonLake Immunotherapeutics $MLTX

Key Points

• Wellington Management Group LLP significantly reduced its stake in MoonLake Immunotherapeutics by 67.5%, selling 66,935 shares, and now holds 32,163 shares worth approximately $1.26 million.
• Despite the sale, institutional ownership remains high with 93.85% of the stock held by institutional investors, indicating strong market interest.
• Analyst ratings are largely positive, with a consensus target price of $74.43 and several upgrades noting the stock as a "buy" or "outperform."

Wellington Management Group LLP decreased its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 67.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,163 shares of the company's stock after selling 66,935 shares during the period. Wellington Management Group LLP owned approximately 0.05% of MoonLake Immunotherapeutics worth $1,257,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Deutsche Bank AG lifted its holdings in MoonLake Immunotherapeutics by 59.8% during the fourth quarter. Deutsche Bank AG now owns 903 shares of the company's stock worth $49,000 after acquiring an additional 338 shares in the last quarter. US Bancorp DE increased its holdings in shares of MoonLake Immunotherapeutics by 114.4% in the first quarter. US Bancorp DE now owns 2,208 shares of the company's stock worth $86,000 after acquiring an additional 1,178 shares in the last quarter. Mariner LLC acquired a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter worth about $272,000. Legato Capital Management LLC bought a new position in shares of MoonLake Immunotherapeutics during the 1st quarter valued at about $240,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at approximately $338,000. Institutional investors own 93.85% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Redburn Atlantic upgraded shares of MoonLake Immunotherapeutics to a "hold" rating in a report on Monday, July 28th. Wedbush restated an "outperform" rating and set a $80.00 price objective (up from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Rothschild & Co Redburn assumed coverage on shares of MoonLake Immunotherapeutics in a research report on Monday, July 28th. They issued a "neutral" rating and a $65.00 price objective on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $67.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 3rd. Finally, Wolfe Research raised MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price target on the stock in a research note on Monday, May 19th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $74.43.

MoonLake Immunotherapeutics Stock Down 1.4%

Shares of NASDAQ MLTX traded down $0.82 during mid-day trading on Thursday, hitting $58.68. The company had a trading volume of 334,879 shares, compared to its average volume of 479,502. 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 50-day simple moving average of $52.40 and a two-hundred day simple moving average of $44.40. The company has a market capitalization of $3.77 billion, a PE 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 $61.87.

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

MoonLake Immunotherapeutics 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.