MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Position Decreased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 54.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,229 shares of the company’s stock after selling 11,096 shares during the period. Y Intercept Hong Kong Ltd’s holdings in MoonLake Immunotherapeutics were worth $500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLTX. FMR LLC raised its stake in shares of MoonLake Immunotherapeutics by 35.8% during the 3rd quarter. FMR LLC now owns 4,950,224 shares of the company’s stock worth $249,590,000 after purchasing an additional 1,306,215 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the 3rd quarter worth about $3,805,000. Congress Asset Management Co. purchased a new stake in shares of MoonLake Immunotherapeutics during the 3rd quarter worth about $3,360,000. Westfield Capital Management Co. LP raised its stake in shares of MoonLake Immunotherapeutics by 4.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,167,358 shares of the company’s stock worth $58,858,000 after purchasing an additional 49,733 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of MoonLake Immunotherapeutics by 24.7% during the 3rd quarter. Victory Capital Management Inc. now owns 217,839 shares of the company’s stock worth $10,983,000 after purchasing an additional 43,157 shares in the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MLTX has been the topic of a number of analyst reports. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday. Wedbush reissued an “outperform” rating and set a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. The Goldman Sachs Group lowered their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Needham & Company LLC increased their price objective on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $83.20.

MoonLake Immunotherapeutics Stock Down 0.0 %

MLTX opened at $41.76 on Friday. The firm has a market capitalization of $2.67 billion, a P/E ratio of -32.37 and a beta of 1.28. The stock’s 50 day moving average price is $46.49 and its two-hundred day moving average price is $48.91. MoonLake Immunotherapeutics has a 12-month low of $37.55 and a 12-month high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). As a group, analysts anticipate 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.