MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Holdings Cut by BVF Inc. IL

BVF Inc. IL lessened its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,751,284 shares of the company's stock after selling 2,000,000 shares during the period. MoonLake Immunotherapeutics makes up approximately 36.3% of BVF Inc. IL's holdings, making the stock its largest position. BVF Inc. IL owned about 30.91% of MoonLake Immunotherapeutics worth $1,069,532,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC increased 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 valued at $283,000 after buying an additional 5,229 shares during the last quarter. Congress Asset Management Co. increased its stake 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 purchasing an additional 6,352 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter worth $244,000. Rice Hall James & Associates LLC lifted 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 purchasing an additional 35,664 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position 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 valued at $354,000 after purchasing an additional 1,013 shares in the last quarter. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Wednesday, April 30th. The Goldman Sachs Group decreased their target price on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. Finally, 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 price objective on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $80.50.

MoonLake Immunotherapeutics Stock Performance

Shares of MoonLake Immunotherapeutics stock traded down $1.65 on Wednesday, hitting $37.62. 568,010 shares of the company traded hands, compared to its average volume of 353,345. MoonLake Immunotherapeutics has a 52 week low of $31.42 and a 52 week high of $58.26. The business has a 50-day simple moving average of $38.55 and a 200 day simple moving average of $45.22. The stock has a market capitalization of $2.41 billion, a P/E ratio of -29.16 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). Research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

About MoonLake Immunotherapeutics

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.