Parkman Healthcare Partners LLC Has $2.94 Million Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Parkman Healthcare Partners LLC reduced its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 47.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,294 shares of the company's stock after selling 48,519 shares during the period. Parkman Healthcare Partners LLC owned about 0.08% of MoonLake Immunotherapeutics worth $2,940,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MLTX. FMR LLC boosted its position in shares of MoonLake Immunotherapeutics by 28.1% during the 4th quarter. FMR LLC now owns 6,341,391 shares of the company's stock valued at $343,386,000 after acquiring an additional 1,391,167 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in MoonLake Immunotherapeutics by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company's stock valued at $181,059,000 after purchasing an additional 363,394 shares during the last quarter. Federated Hermes Inc. lifted its holdings in MoonLake Immunotherapeutics by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company's stock valued at $69,315,000 after purchasing an additional 149,724 shares during the last quarter. Marshall Wace LLP lifted its holdings in MoonLake Immunotherapeutics by 7.9% during the 4th quarter. Marshall Wace LLP now owns 1,245,299 shares of the company's stock valued at $67,433,000 after purchasing an additional 90,914 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in MoonLake Immunotherapeutics during the 4th quarter valued at about $3,485,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX opened at $38.54 on Wednesday. The stock has a market cap of $2.47 billion, a P/E ratio of -29.88 and a beta of 1.31. MoonLake Immunotherapeutics has a 52-week low of $31.42 and a 52-week high of $58.26. The firm has a 50 day moving average price of $38.43 and a 200 day moving average price of $44.97.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.63) EPS for the quarter, topping analysts' consensus estimates of ($0.76) by $0.13. During the same quarter in the prior year, the business posted ($0.22) earnings per share. Analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday. Royal Bank of Canada started coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $67.00 target price for the company. 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. Wedbush reaffirmed an "outperform" rating and issued a $80.00 target price (up from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday. Finally, The Goldman Sachs Group dropped 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. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of "Moderate Buy" and an average target price of $81.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.