Federated Hermes Inc. Acquires 149,724 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Federated Hermes Inc. increased its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 13.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,280,052 shares of the company's stock after acquiring an additional 149,724 shares during the quarter. Federated Hermes Inc. owned about 2.00% of MoonLake Immunotherapeutics worth $69,315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Finepoint Capital LP lifted its stake in shares of MoonLake Immunotherapeutics by 15.2% during the 4th quarter. Finepoint Capital LP now owns 447,935 shares of the company's stock valued at $24,256,000 after buying an additional 59,100 shares in the last quarter. Cinctive Capital Management LP purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at about $573,000. Geode Capital Management LLC lifted its position in shares of MoonLake Immunotherapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 58,950 shares of the company's stock valued at $3,192,000 after acquiring an additional 540 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of MoonLake Immunotherapeutics by 2.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,022,604 shares of the company's stock worth $55,374,000 after purchasing an additional 24,464 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in MoonLake Immunotherapeutics by 26.6% during the 4th quarter. Clearbridge Investments LLC now owns 43,380 shares of the company's stock valued at $2,349,000 after purchasing an additional 9,106 shares during the period. Institutional investors own 93.85% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada initiated coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They set an "outperform" rating and a $67.00 price objective for the company. 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. 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. Finally, Needham & Company LLC lifted their target price on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $80.50.

MoonLake Immunotherapeutics Stock Up 2.7 %

NASDAQ MLTX traded up $0.93 during trading hours on Friday, hitting $34.90. 428,806 shares of the company were exchanged, compared to its average volume of 345,957. MoonLake Immunotherapeutics has a 52 week low of $31.42 and a 52 week high of $58.26. The stock has a 50-day moving average price of $39.85 and a 200 day moving average price of $46.47. The stock has a market cap of $2.23 billion, a PE ratio of -27.05 and a beta of 1.32.

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). As a group, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current 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.