Polar Capital Holdings Plc Increases Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Polar Capital Holdings Plc lifted its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 120.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,100,000 shares of the company's stock after purchasing an additional 600,000 shares during the period. Polar Capital Holdings Plc owned approximately 1.72% of MoonLake Immunotherapeutics worth $59,565,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Paradigm Biocapital Advisors LP raised its position in MoonLake Immunotherapeutics by 90.3% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company's stock valued at $95,965,000 after buying an additional 840,731 shares during the period. Nuveen Asset Management LLC increased its position in MoonLake Immunotherapeutics by 2.5% in the 4th quarter. Nuveen Asset Management LLC now owns 595,581 shares of the company's stock worth $32,251,000 after purchasing an additional 14,792 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in MoonLake Immunotherapeutics by 29.6% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,740 shares of the company's stock worth $1,123,000 after purchasing an additional 4,740 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in MoonLake Immunotherapeutics by 13.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,456 shares of the company's stock worth $837,000 after purchasing an additional 1,866 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in MoonLake Immunotherapeutics in the 4th quarter worth about $338,000. 93.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Wedbush reiterated an "outperform" rating and set a $80.00 price target (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Royal Bank of Canada initiated coverage on MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They set an "outperform" rating and a $67.00 price target for the company. The Goldman Sachs Group decreased their price target on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, HC Wainwright reiterated a "buy" rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $78.71.

MoonLake Immunotherapeutics Trading Up 1.0%

NASDAQ MLTX traded up $0.41 during trading hours on Tuesday, hitting $39.61. The company's stock had a trading volume of 80,604 shares, compared to its average volume of 354,936. The company has a market capitalization of $2.54 billion, a PE ratio of -30.67 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 company's 50-day simple moving average is $38.40 and its two-hundred day simple moving average is $44.65.

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 quarter in the prior year, the company earned ($0.22) earnings per share. Research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

MoonLake Immunotherapeutics 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.