MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. reduced its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 69.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,000 shares of the company's stock after selling 350,000 shares during the period. Adage Capital Partners GP L.L.C. owned 0.24% of MoonLake Immunotherapeutics worth $8,393,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in MoonLake Immunotherapeutics by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company's stock valued at $460,000 after buying an additional 320 shares during the last quarter. Geode Capital Management LLC increased its position in shares of MoonLake Immunotherapeutics by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 58,950 shares of the company's stock valued at $3,192,000 after acquiring an additional 540 shares in the last quarter. DnB Asset Management AS lifted its position in MoonLake Immunotherapeutics by 11.3% in the 4th quarter. DnB Asset Management AS now owns 8,356 shares of the company's stock valued at $452,000 after acquiring an additional 847 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in MoonLake Immunotherapeutics by 18.4% during the 4th quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company's stock valued at $354,000 after purchasing an additional 1,013 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of MoonLake Immunotherapeutics by 5.8% in the fourth quarter. Sei Investments Co. now owns 22,025 shares of the company's stock worth $1,193,000 after purchasing an additional 1,202 shares during the last quarter. 93.85% of the stock is owned by institutional investors.

MoonLake Immunotherapeutics Trading Down 1.5 %

Shares of NASDAQ:MLTX traded down $0.64 on Thursday, hitting $41.44. 359,447 shares of the company were exchanged, compared to its average volume of 351,785. The stock's 50 day moving average price is $38.58 and its 200 day moving average price is $45.39. The firm has a market capitalization of $2.65 billion, a P/E ratio of -32.12 and a beta of 1.32. MoonLake Immunotherapeutics has a 1-year low of $31.42 and a 1-year high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.09). On average, equities analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Wednesday. Royal Bank of Canada started coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $67.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group dropped their target price on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, MoonLake Immunotherapeutics currently has an average rating of "Buy" and an average price target of $80.50.

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.