Parkman Healthcare Partners LLC Sells 48,519 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Parkman Healthcare Partners LLC decreased its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 47.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 54,294 shares of the company's stock after selling 48,519 shares during the period. Parkman Healthcare Partners LLC owned 0.08% of MoonLake Immunotherapeutics worth $2,940,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MLTX. FMR LLC increased its holdings 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 during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 acquiring an additional 363,394 shares during the last quarter. Federated Hermes Inc. boosted its stake 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 period. Marshall Wace LLP boosted its stake 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 period. Finally, Dimensional Fund Advisors LP bought a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at approximately $3,485,000. Institutional investors and hedge funds own 93.85% of the company's stock.

Analysts Set New Price Targets

MLTX has been the subject of several recent analyst reports. Needham & Company LLC restated a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. HC Wainwright restated a "buy" rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Wolfe Research upgraded MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 target price for the company in a research note on Monday. The Goldman Sachs Group reduced their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Wedbush reiterated 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $78.71.

MoonLake Immunotherapeutics Trading Up 4.3%

MLTX stock traded up $1.61 during trading on Monday, hitting $39.23. The company had a trading volume of 122,466 shares, compared to its average volume of 355,509. The company has a fifty day moving average price of $38.40 and a two-hundred day moving average price of $44.70. The company has a market cap of $2.51 billion, a P/E ratio of -30.35 and a beta of 1.31. MoonLake Immunotherapeutics has a fifty-two week low of $31.42 and a fifty-two week high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.13. During the same period last year, the business posted ($0.22) earnings per share. On average, analysts expect 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.