MPM Bioimpact LLC Trims Stake in MoonLake Immunotherapeutics (NASDAQ:MLTX)

MPM Bioimpact LLC lowered its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 315,230 shares of the company's stock after selling 33,833 shares during the quarter. MoonLake Immunotherapeutics makes up 2.4% of MPM Bioimpact LLC's portfolio, making the stock its 15th biggest holding. MPM Bioimpact LLC owned approximately 0.49% of MoonLake Immunotherapeutics worth $17,070,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. FMR LLC grew its holdings in MoonLake Immunotherapeutics by 28.1% during the 4th quarter. FMR LLC now owns 6,341,391 shares of the company's stock valued at $343,386,000 after buying an additional 1,391,167 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in MoonLake Immunotherapeutics by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company's stock valued at $181,059,000 after acquiring an additional 363,394 shares during the period. Paradigm Biocapital Advisors LP lifted its holdings in MoonLake Immunotherapeutics by 90.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company's stock valued at $95,965,000 after buying an additional 840,731 shares in the last quarter. Federated Hermes Inc. lifted its holdings in MoonLake Immunotherapeutics by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company's stock valued at $69,315,000 after buying an additional 149,724 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of MoonLake Immunotherapeutics by 7.9% during the 4th quarter. Marshall Wace LLP now owns 1,245,299 shares of the company's stock worth $67,433,000 after buying an additional 90,914 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company's stock.

MoonLake Immunotherapeutics Trading Up 4.3%

Shares of MLTX stock traded up $1.61 during trading hours on Monday, hitting $39.23. The company's stock had a trading volume of 122,466 shares, compared to its average volume of 355,509. The company has a 50 day moving average of $38.40 and a 200 day moving average of $44.70. The stock has a market cap of $2.51 billion, a PE ratio of -30.35 and a beta of 1.31. MoonLake Immunotherapeutics has a 12-month low of $31.42 and a 12-month high of $58.26.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MLTX. Needham & Company LLC reissued a "buy" rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. The Goldman Sachs Group decreased their price target on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Wolfe Research upgraded MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price target for the company in a research note on Monday. HC Wainwright reiterated a "buy" rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, Wedbush reiterated an "outperform" rating and issued a $80.00 price target (up from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $78.71.

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.