Zimmer Partners LP Buys New Position in MoonLake Immunotherapeutics $MLTX

Key Points

• Zimmer Partners LP has made a fresh investment in MoonLake Immunotherapeutics, acquiring 24,500 shares valued at approximately $957,000.
• MoonLake Immunotherapeutics has seen significant interest from other investors, with notable purchases from Octagon Capital Advisors and Millennium Management, bringing institutional ownership to 93.85%.
• Analysts have varying opinions on the stock, with targets ranging from $65.00 to $82.00 and a consensus rating of "Moderate Buy".

Zimmer Partners LP purchased a new stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,500 shares of the company's stock, valued at approximately $957,000.

Several other institutional investors and hedge funds have also made changes to their positions in MLTX. Deutsche Bank AG raised its position in shares of MoonLake Immunotherapeutics by 59.8% during 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 in the last quarter. US Bancorp DE raised its position in shares of MoonLake Immunotherapeutics by 114.4% during the 1st quarter. US Bancorp DE now owns 2,208 shares of the company's stock valued at $86,000 after acquiring an additional 1,178 shares in the last quarter. Quarry LP bought a new position in MoonLake Immunotherapeutics during the 1st quarter worth $94,000. Advisors Asset Management Inc. grew its stake in MoonLake Immunotherapeutics by 81.7% during the 1st quarter. Advisors Asset Management Inc. now owns 4,009 shares of the company's stock worth $157,000 after buying an additional 1,803 shares during the last quarter. Finally, Legato Capital Management LLC bought a new position in MoonLake Immunotherapeutics during the 1st quarter worth $240,000. 93.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MLTX has been the subject of a number of recent research reports. Royal Bank Of Canada restated an "outperform" rating and set a $67.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 3rd. 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 research note on Monday, May 19th. Redburn Atlantic upgraded MoonLake Immunotherapeutics to a "hold" rating in a research note on Monday, July 28th. The Goldman Sachs Group upped their price objective on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Rothschild & Co Redburn initiated coverage on MoonLake Immunotherapeutics in a research note on Monday, July 28th. They set a "neutral" rating and a $65.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.43.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX traded down $1.68 on Friday, hitting $52.62. The company's stock had a trading volume of 864,952 shares, compared to its average volume of 575,855. MoonLake Immunotherapeutics has a 12 month low of $31.42 and a 12 month high of $61.87. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -18.93 and a beta of 1.27. The stock's 50-day moving average is $53.78 and its two-hundred day moving average is $45.12. The company has a debt-to-equity ratio of 0.21, a quick ratio of 16.65 and a current ratio of 16.65.

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

About MoonLake Immunotherapeutics

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.