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

MPM Bioimpact LLC decreased its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 315,230 shares of the company's stock after selling 33,833 shares during the quarter. MoonLake Immunotherapeutics accounts for approximately 2.4% of MPM Bioimpact LLC's portfolio, making the stock its 15th largest position. MPM Bioimpact LLC owned about 0.49% of MoonLake Immunotherapeutics worth $17,070,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deutsche Bank AG grew its stake in shares of MoonLake Immunotherapeutics by 59.8% in the fourth quarter. Deutsche Bank AG now owns 903 shares of the company's stock worth $49,000 after acquiring an additional 338 shares in the last quarter. Birchview Capital LP acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth $217,000. KLP Kapitalforvaltning AS acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth $244,000. PEAK6 LLC acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth $271,000. Finally, Mariner LLC acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth $272,000. Hedge funds and other institutional investors own 93.85% of the company's stock.

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX traded down $0.04 during trading hours on Friday, hitting $37.62. The company had a trading volume of 351,510 shares, compared to its average volume of 356,542. MoonLake Immunotherapeutics has a 1-year low of $31.42 and a 1-year high of $58.26. The company has a market cap of $2.41 billion, a PE ratio of -29.16 and a beta of 1.31. The business has a 50 day moving average of $38.40 and a 200-day moving average of $44.71.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MLTX shares. Wedbush restated an "outperform" rating and issued a $80.00 price target (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday. Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They set an "outperform" rating and a $67.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday. The Goldman Sachs Group lowered their target price on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, HC Wainwright reiterated a "buy" rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $81.67.

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.