Alliancebernstein L.P. Acquires 24,464 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Alliancebernstein L.P. lifted its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,022,604 shares of the company's stock after acquiring an additional 24,464 shares during the period. Alliancebernstein L.P. owned approximately 1.60% of MoonLake Immunotherapeutics worth $55,374,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MLTX. The Manufacturers Life Insurance Company raised its position in MoonLake Immunotherapeutics by 3.4% during the 3rd 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. Rice Hall James & Associates LLC grew its position 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 purchasing an additional 35,664 shares in the last quarter. State Street Corp grew its position in 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 in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of MoonLake Immunotherapeutics by 2.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 79,648 shares of the company's stock valued at $4,313,000 after buying an additional 2,180 shares during the period. Finally, Congress Asset Management Co. raised its stake in MoonLake Immunotherapeutics by 9.5% in the fourth quarter. Congress Asset Management Co. now owns 72,993 shares of the company's stock worth $3,953,000 after buying an additional 6,352 shares in the last quarter. Institutional investors own 93.85% of the company's stock.

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MoonLake Immunotherapeutics Stock Down 7.4 %

Shares of MoonLake Immunotherapeutics stock traded down $2.68 during trading on Thursday, hitting $33.31. The stock had a trading volume of 66,156 shares, compared to its average volume of 343,151. The company has a market capitalization of $2.13 billion, a PE ratio of -25.98 and a beta of 1.32. The stock has a 50 day simple moving average of $40.23 and a 200 day simple moving average of $46.72. MoonLake Immunotherapeutics has a 1 year low of $31.42 and a 1 year high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its 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, equities analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MLTX shares. The Goldman Sachs Group lowered 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. HC Wainwright reissued a "buy" rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Royal Bank of Canada started coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $67.00 price objective for the company. Finally, Needham & Company LLC raised their price target on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has a consensus rating of "Buy" and a consensus target price 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.