Clearbridge Investments LLC Has $2.35 Million Stock Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Clearbridge Investments LLC boosted its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 26.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,380 shares of the company's stock after purchasing an additional 9,106 shares during the period. Clearbridge Investments LLC owned about 0.07% of MoonLake Immunotherapeutics worth $2,349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MLTX. KLP Kapitalforvaltning AS bought a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at about $244,000. Barclays PLC raised its stake in shares of MoonLake Immunotherapeutics by 1,269.2% during the 3rd quarter. Barclays PLC now owns 5,641 shares of the company's stock worth $283,000 after purchasing an additional 5,229 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings 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 buying an additional 1,013 shares during the last quarter. LPL Financial LLC grew its stake in shares of MoonLake Immunotherapeutics by 19.5% in the fourth quarter. LPL Financial LLC now owns 8,146 shares of the company's stock valued at $441,000 after buying an additional 1,332 shares in the last quarter. Finally, DnB Asset Management AS grew its stake in shares of MoonLake Immunotherapeutics by 11.3% in the fourth quarter. DnB Asset Management AS now owns 8,356 shares of the company's stock valued at $452,000 after buying an additional 847 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX traded down $0.24 on Tuesday, reaching $34.55. The stock had a trading volume of 51,250 shares, compared to its average volume of 341,781. MoonLake Immunotherapeutics has a 1-year low of $33.61 and a 1-year high of $58.26. The company has a market cap of $2.21 billion, a P/E ratio of -26.79 and a beta of 1.32. The firm has a fifty day moving average of $41.16 and a two-hundred day moving average of $47.18.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.09). Research analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MLTX shares. HC Wainwright reiterated a "buy" rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. The Goldman Sachs Group cut their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada initiated coverage on MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They set an "outperform" rating and a $67.00 target price on the stock. Finally, Needham & Company LLC increased their price objective 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target 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.