Cinctive Capital Management LP Makes New $573,000 Investment in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Cinctive Capital Management LP acquired a new stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,576 shares of the company's stock, valued at approximately $573,000.

Several other institutional investors and hedge funds have also modified their holdings of MLTX. PNC Financial Services Group Inc. boosted its position in MoonLake Immunotherapeutics by 3.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company's stock worth $460,000 after buying an additional 320 shares during the period. Geode Capital Management LLC grew its holdings in MoonLake Immunotherapeutics by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 58,950 shares of the company's stock worth $3,192,000 after acquiring an additional 540 shares during the period. DnB Asset Management AS raised its position 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 worth $452,000 after acquiring an additional 847 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of MoonLake Immunotherapeutics by 18.4% in the 4th quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company's stock valued at $354,000 after purchasing an additional 1,013 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of MoonLake Immunotherapeutics by 5.8% in the 4th quarter. Sei Investments Co. now owns 22,025 shares of the company's stock valued at $1,193,000 after purchasing an additional 1,202 shares during the period. 93.85% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company 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 company a "buy" rating in a research note on Thursday, February 27th. HC Wainwright reissued a "buy" rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, Royal Bank of Canada began coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $67.00 price target for the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of "Buy" and an average target price of $80.50.

MoonLake Immunotherapeutics Trading Up 9.6 %

NASDAQ MLTX traded up $3.15 during mid-day trading on Wednesday, hitting $35.98. The company's stock had a trading volume of 608,461 shares, compared to its average volume of 344,230. The company's 50 day simple moving average is $40.23 and its 200 day simple moving average is $46.72. MoonLake Immunotherapeutics has a twelve month low of $31.42 and a twelve month high of $58.26. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -27.89 and a beta of 1.32.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted 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, research analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

About MoonLake Immunotherapeutics

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.