MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS boosted its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 11.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,356 shares of the company’s stock after acquiring an additional 847 shares during the period. DnB Asset Management AS’s holdings in MoonLake Immunotherapeutics were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MLTX. The Manufacturers Life Insurance Company grew its position in shares of MoonLake Immunotherapeutics by 3.4% in the third quarter. The Manufacturers Life Insurance Company now owns 118,126 shares of the company’s stock valued at $5,956,000 after purchasing an additional 3,892 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in MoonLake Immunotherapeutics by 96.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,814 shares of the company’s stock valued at $1,806,000 after buying an additional 17,580 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in MoonLake Immunotherapeutics during the 3rd quarter valued at $741,000. Parkman Healthcare Partners LLC increased its position in MoonLake Immunotherapeutics by 1.6% during the third quarter. Parkman Healthcare Partners LLC now owns 102,813 shares of the company’s stock worth $5,184,000 after buying an additional 1,589 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of MoonLake Immunotherapeutics by 96.2% in the third quarter. State Street Corp now owns 87,637 shares of the company’s stock worth $4,419,000 after acquiring an additional 42,980 shares during the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Stock Up 4.7 %

MLTX stock opened at $38.05 on Thursday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -29.50 and a beta of 1.31. The business has a fifty day simple moving average of $41.71 and a 200-day simple moving average of $47.53. MoonLake Immunotherapeutics has a 52 week low of $35.39 and a 52 week high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.09). As a group, analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada initiated 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. Needham & Company LLC increased their price target on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company 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.