Fred Alger Management LLC Grows Stock Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Fred Alger Management LLC raised its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 673,773 shares of the company's stock after buying an additional 7,199 shares during the period. Fred Alger Management LLC owned 1.05% of MoonLake Immunotherapeutics worth $36,485,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its holdings in MoonLake Immunotherapeutics by 1,269.2% during the third quarter. Barclays PLC now owns 5,641 shares of the company's stock worth $283,000 after acquiring an additional 5,229 shares during the period. Congress Asset Management Co. boosted its holdings in shares of MoonLake Immunotherapeutics by 9.5% in the 4th quarter. Congress Asset Management Co. now owns 72,993 shares of the company's stock worth $3,953,000 after buying an additional 6,352 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of MoonLake Immunotherapeutics in the 4th quarter worth about $244,000. 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. Finally, Teacher Retirement System of Texas increased its holdings 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 worth $354,000 after buying an additional 1,013 shares during the last quarter. Institutional investors own 93.85% of the company's stock.

Wall Street Analysts Forecast Growth

MLTX has been the topic of a number of research analyst reports. HC Wainwright reiterated a "buy" rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. 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. Needham & Company LLC restated a "buy" rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada assumed coverage on MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $67.00 price target on the stock. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $80.50.

MoonLake Immunotherapeutics Stock Down 3.2 %

Shares of NASDAQ:MLTX traded down $1.27 during midday trading on Friday, reaching $38.47. 273,563 shares of the company traded hands, compared to its average volume of 355,541. MoonLake Immunotherapeutics has a 12 month low of $31.42 and a 12 month high of $58.26. The firm's fifty day moving average price is $38.43 and its two-hundred day moving average price is $45.02. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -29.82 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.09). Analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current 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.