BIT Capital GmbH Buys New Holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX)

BIT Capital GmbH acquired a new position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 20,748 shares of the company's stock, valued at approximately $1,124,000.

A number of other hedge funds have also made changes to their positions in the stock. FMR LLC boosted 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 acquiring an additional 1,306,215 shares in the last quarter. State Street Corp lifted its position in shares of MoonLake Immunotherapeutics by 96.2% during the 3rd quarter. State Street Corp now owns 87,637 shares of the company's stock worth $4,419,000 after buying an additional 42,980 shares during the period. Rice Hall James & Associates LLC raised its stake in MoonLake Immunotherapeutics by 47.3% during the fourth quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company's stock worth $6,018,000 after acquiring an additional 35,664 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 96.4% during the third 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 acquiring an additional 17,580 shares during the period. Finally, Erste Asset Management GmbH acquired a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $741,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of research analysts have recently issued reports on MLTX shares. The Goldman Sachs Group cut their target price on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $67.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, Needham & Company LLC boosted their price objective on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. One investment 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $80.50.

MoonLake Immunotherapeutics Stock Performance

MLTX stock traded down $1.82 during mid-day trading on Monday, hitting $38.04. 301,629 shares of the company were exchanged, compared to its average volume of 433,435. The firm has a market cap of $2.44 billion, a P/E ratio of -29.49 and a beta of 1.31. MoonLake Immunotherapeutics has a 1-year low of $36.52 and a 1-year high of $58.26. The firm's 50 day simple moving average is $42.17 and its 200 day simple moving average is $47.79.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its 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). On average, equities research analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

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.