MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC cut its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 21.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,438 shares of the company's stock after selling 36,196 shares during the quarter. Granahan Investment Management LLC owned about 0.21% of MoonLake Immunotherapeutics worth $7,388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MLTX. Deutsche Bank AG increased its stake 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 during the last quarter. Birchview Capital LP purchased a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $217,000. KLP Kapitalforvaltning AS purchased a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $244,000. PEAK6 LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $271,000. Finally, Mariner LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $272,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MLTX. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday, April 30th. Royal Bank of Canada began coverage on MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $67.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group decreased their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $80.50.

MoonLake Immunotherapeutics Price Performance

MLTX traded up $1.71 on Monday, reaching $40.18. The company's stock had a trading volume of 345,524 shares, compared to its average volume of 355,501. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -31.15 and a beta of 1.31. MoonLake Immunotherapeutics has a 1 year low of $31.42 and a 1 year high of $58.26. The business's 50 day moving average is $38.43 and its 200 day moving average is $45.02.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.63) EPS for the quarter, beating analysts' consensus estimates of ($0.76) by $0.13. During the same period in the previous year, the company posted ($0.22) earnings per share. As a group, research analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal 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.