The Manufacturers Life Insurance Company Purchases 24,576 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

The Manufacturers Life Insurance Company lifted its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 20.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,702 shares of the company's stock after purchasing an additional 24,576 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.22% of MoonLake Immunotherapeutics worth $7,727,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MLTX. Barclays PLC lifted its stake in MoonLake Immunotherapeutics by 1,269.2% during the third quarter. Barclays PLC now owns 5,641 shares of the company's stock valued at $283,000 after buying an additional 5,229 shares in the last quarter. Congress Asset Management Co. lifted its holdings in shares of MoonLake Immunotherapeutics by 9.5% in the fourth quarter. Congress Asset Management Co. now owns 72,993 shares of the company's stock valued at $3,953,000 after purchasing an additional 6,352 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth $244,000. Rice Hall James & Associates LLC grew its holdings in shares of MoonLake Immunotherapeutics by 47.3% during the fourth quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company's stock valued at $6,018,000 after buying an additional 35,664 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in MoonLake Immunotherapeutics by 18.4% during the fourth quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company's stock valued at $354,000 after buying an additional 1,013 shares during the period. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX stock traded down $1.27 during trading on Friday, reaching $38.47. The company had a trading volume of 273,563 shares, compared to its average volume of 355,541. The firm's 50 day simple moving average is $38.43 and its two-hundred day simple moving average is $45.03. MoonLake Immunotherapeutics has a one year low of $31.42 and a one year high of $58.26. The company has a market capitalization of $2.46 billion, a PE ratio of -29.82 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.09). Analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Royal Bank of Canada began coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $67.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group cut their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $80.50.

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.