Price T Rowe Associates Inc. MD Raises Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Price T Rowe Associates Inc. MD lifted its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 12.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,343,643 shares of the company's stock after buying an additional 363,394 shares during the quarter. Price T Rowe Associates Inc. MD owned about 5.23% of MoonLake Immunotherapeutics worth $181,059,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Barclays PLC lifted its stake in MoonLake Immunotherapeutics by 1,269.2% in the third quarter. Barclays PLC now owns 5,641 shares of the company's stock valued at $283,000 after buying an additional 5,229 shares during the last quarter. State Street Corp boosted its stake in MoonLake Immunotherapeutics by 96.2% during the 3rd quarter. State Street Corp now owns 87,637 shares of the company's stock worth $4,419,000 after purchasing an additional 42,980 shares during the period. Congress Asset Management Co. grew its position in MoonLake Immunotherapeutics by 9.5% during the 4th quarter. Congress Asset Management Co. now owns 72,993 shares of the company's stock worth $3,953,000 after purchasing an additional 6,352 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in MoonLake Immunotherapeutics in the fourth quarter valued at $244,000. Finally, Rice Hall James & Associates LLC raised its holdings in shares of MoonLake Immunotherapeutics by 47.3% in 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 last quarter. Institutional investors and hedge funds own 93.85% of the company's stock.

Wall Street Analysts Forecast Growth

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

MoonLake Immunotherapeutics Stock Performance

MLTX stock traded up $0.79 on Friday, reaching $42.23. The company had a trading volume of 127,724 shares, compared to its average volume of 350,926. The company's fifty day moving average is $38.58 and its 200 day moving average is $45.39. The company has a market cap of $2.70 billion, a P/E ratio of -32.74 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 quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.09). On average, sell-side analysts predict 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.