Federated Hermes Inc. Buys 149,724 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Federated Hermes Inc. increased its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 13.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,280,052 shares of the company’s stock after acquiring an additional 149,724 shares during the quarter. Federated Hermes Inc. owned about 2.00% of MoonLake Immunotherapeutics worth $69,315,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new position in MoonLake Immunotherapeutics in the 4th quarter valued at $244,000. Barclays PLC boosted 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 during the period. Teacher Retirement System of Texas grew 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 worth $354,000 after buying an additional 1,013 shares in the last quarter. LPL Financial LLC increased its stake in MoonLake Immunotherapeutics by 19.5% in the 4th quarter. LPL Financial LLC now owns 8,146 shares of the company’s stock worth $441,000 after acquiring an additional 1,332 shares during the last quarter. Finally, DnB Asset Management AS raised its holdings in shares of MoonLake Immunotherapeutics by 11.3% in the 4th quarter. DnB Asset Management AS now owns 8,356 shares of the company’s stock valued at $452,000 after acquiring an additional 847 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Down 2.2 %

NASDAQ MLTX opened at $37.21 on Monday. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -28.84 and a beta of 1.32. The company has a 50-day simple moving average of $41.36 and a two-hundred day simple moving average of $47.31. MoonLake Immunotherapeutics has a 12-month low of $31.37 and a 12-month high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) 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). Equities analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. 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 report on Thursday, February 27th. Needham & Company LLC lifted their price objective on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada initiated coverage on MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of “Buy” and an average price target of $80.50.

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.