Wellington Management Group LLP Sells 92,960 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Wellington Management Group LLP cut its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 48.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,098 shares of the company’s stock after selling 92,960 shares during the period. Wellington Management Group LLP owned approximately 0.16% of MoonLake Immunotherapeutics worth $5,366,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in shares of MoonLake Immunotherapeutics by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company’s stock worth $460,000 after purchasing an additional 320 shares during the period. DnB Asset Management AS lifted its holdings in MoonLake Immunotherapeutics by 11.3% in the fourth quarter. DnB Asset Management AS now owns 8,356 shares of the company’s stock worth $452,000 after buying an additional 847 shares during the period. Teacher Retirement System of Texas boosted its position in MoonLake Immunotherapeutics by 18.4% during the 4th quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company’s stock valued at $354,000 after acquiring an additional 1,013 shares in the last quarter. Sei Investments Co. grew its holdings in shares of MoonLake Immunotherapeutics by 5.8% during the 4th quarter. Sei Investments Co. now owns 22,025 shares of the company’s stock worth $1,193,000 after acquiring an additional 1,202 shares during the period. Finally, LPL Financial LLC raised its position in shares of 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 in the last quarter. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Trading Down 5.6 %

Shares of NASDAQ:MLTX opened at $33.97 on Friday. The stock has a 50 day moving average of $40.03 and a 200 day moving average of $46.58. The company has a market cap of $2.17 billion, a PE ratio of -26.33 and a beta of 1.32. MoonLake Immunotherapeutics has a 12-month low of $31.42 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 for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). Equities research analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MLTX. Needham & Company LLC increased their price objective on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. The Goldman Sachs Group decreased their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, 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. One 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’s stock. According to MarketBeat, the company presently 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.