Candriam S.C.A. Lowers Stake in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Candriam S.C.A. cut its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 227,476 shares of the company's stock after selling 11,524 shares during the quarter. Candriam S.C.A. owned approximately 0.36% of MoonLake Immunotherapeutics worth $12,318,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MLTX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in MoonLake Immunotherapeutics by 96.4% during 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 worth $1,806,000 after buying an additional 17,580 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in MoonLake Immunotherapeutics in the third quarter worth about $741,000. Barclays PLC grew its stake in shares of MoonLake Immunotherapeutics by 1,269.2% during the third quarter. Barclays PLC now owns 5,641 shares of the company's stock worth $283,000 after acquiring an additional 5,229 shares during the last quarter. State Street Corp increased its holdings in shares of MoonLake Immunotherapeutics by 96.2% during the third quarter. State Street Corp now owns 87,637 shares of the company's stock valued at $4,419,000 after acquiring an additional 42,980 shares in the last quarter. Finally, Congress Asset Management Co. raised its position in shares of MoonLake Immunotherapeutics by 9.5% in the 4th quarter. Congress Asset Management Co. now owns 72,993 shares of the company's stock valued at $3,953,000 after purchasing an additional 6,352 shares during the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. 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. Finally, Needham & Company LLC upped their target price on 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, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $83.20.

MoonLake Immunotherapeutics Stock Performance

NASDAQ MLTX traded up $0.99 on Tuesday, reaching $37.74. 356,275 shares of the company's stock traded hands, compared to its average volume of 340,556. The stock has a 50 day moving average price of $44.78 and a 200-day moving average price of $48.54. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -29.26 and a beta of 1.31. MoonLake Immunotherapeutics has a fifty-two week low of $36.63 and a fifty-two week high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings data 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). As a group, equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

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.