Federated Hermes Inc. Has $64.05 Million Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Federated Hermes Inc. cut its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,060,526 shares of the company's stock after selling 23,724 shares during the period. Federated Hermes Inc. owned 1.70% of MoonLake Immunotherapeutics worth $64,045,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. FMR LLC raised its position in MoonLake Immunotherapeutics by 0.6% in the 3rd quarter. FMR LLC now owns 3,397,253 shares of the company's stock worth $193,643,000 after purchasing an additional 19,508 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of MoonLake Immunotherapeutics during the second quarter valued at $13,916,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of MoonLake Immunotherapeutics by 42.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,952,703 shares of the company's stock valued at $111,304,000 after acquiring an additional 580,375 shares during the period. Price T Rowe Associates Inc. MD bought a new position in MoonLake Immunotherapeutics in the second quarter valued at about $4,439,000. Finally, Alliancebernstein L.P. acquired a new stake in MoonLake Immunotherapeutics in the second quarter worth about $42,726,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Trading Down 0.1 %

Shares of NASDAQ MLTX traded down $0.06 during mid-day trading on Friday, reaching $42.19. 527,548 shares of the company's stock were exchanged, compared to its average volume of 465,669. MoonLake Immunotherapeutics has a twelve month low of $19.80 and a twelve month high of $64.98. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -55.51 and a beta of 1.20. The business has a fifty day simple moving average of $49.84 and a 200 day simple moving average of $52.16.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.23) by $0.11. Equities research analysts predict that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current fiscal year.

Insider Transactions at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 4,740 shares of MoonLake Immunotherapeutics stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $55.89, for a total value of $264,918.60. Following the sale, the chief executive officer now owns 2,982,814 shares of the company's stock, valued at approximately $166,709,474.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Kristian Reich sold 10,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $60.15, for a total value of $601,500.00. Following the sale, the insider now directly owns 110,071 shares in the company, valued at $6,620,770.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Da Silva Jorge Santos sold 4,740 shares of the business's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $55.89, for a total transaction of $264,918.60. Following the completion of the sale, the chief executive officer now directly owns 2,982,814 shares in the company, valued at approximately $166,709,474.46. The disclosure for this sale can be found here. Insiders sold 166,981 shares of company stock valued at $9,490,674 over the last quarter. Corporate insiders own 15.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MLTX shares. William Blair reaffirmed an "outperform" rating and issued a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, April 11th. Wedbush reiterated an "outperform" rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. Wolfe Research initiated coverage on MoonLake Immunotherapeutics in a research report on Thursday, February 15th. They issued an "outperform" rating and a $77.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.46.

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.