Paradigm Biocapital Advisors LP Has $95.97 Million Holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Paradigm Biocapital Advisors LP lifted its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 90.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,772,211 shares of the company's stock after acquiring an additional 840,731 shares during the quarter. MoonLake Immunotherapeutics accounts for about 3.3% of Paradigm Biocapital Advisors LP's portfolio, making the stock its 11th largest position. Paradigm Biocapital Advisors LP owned 2.77% of MoonLake Immunotherapeutics worth $95,965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. FMR LLC grew its holdings in shares of MoonLake Immunotherapeutics by 28.1% during the fourth quarter. FMR LLC now owns 6,341,391 shares of the company's stock worth $343,386,000 after purchasing an additional 1,391,167 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of MoonLake Immunotherapeutics by 12.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company's stock worth $181,059,000 after buying an additional 363,394 shares during the period. Federated Hermes Inc. boosted its stake in shares of MoonLake Immunotherapeutics by 13.2% during the fourth quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company's stock worth $69,315,000 after buying an additional 149,724 shares during the period. Marshall Wace LLP boosted its stake in shares of MoonLake Immunotherapeutics by 7.9% during the fourth 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 during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of MoonLake Immunotherapeutics by 2.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,022,604 shares of the company's stock worth $55,374,000 after buying an additional 24,464 shares during the period. Hedge funds and other institutional investors own 93.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MLTX. Wedbush restated an "outperform" rating and issued a $80.00 price objective (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. The Goldman Sachs Group dropped their price objective 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. Royal Bank of Canada initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They set an "outperform" rating and a $67.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $78.71.

MoonLake Immunotherapeutics Stock Up 4.3%

NASDAQ MLTX traded up $1.61 on Monday, hitting $39.23. The stock had a trading volume of 122,466 shares, compared to its average volume of 355,509. The company's 50-day moving average is $38.40 and its two-hundred day moving average is $44.70. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -30.35 and a beta of 1.31. MoonLake Immunotherapeutics has a one year low of $31.42 and a one year high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.63) earnings per share for the quarter, topping analysts' consensus estimates of ($0.76) by $0.13. During the same quarter last year, the business earned ($0.22) earnings per share. On average, sell-side analysts anticipate 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.