Marshall Wace LLP Grows Stock Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Marshall Wace LLP increased its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,245,299 shares of the company's stock after acquiring an additional 90,914 shares during the period. Marshall Wace LLP owned about 1.95% of MoonLake Immunotherapeutics worth $67,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of MLTX. PEAK6 LLC acquired a new position in shares of MoonLake Immunotherapeutics in the 4th quarter valued at $271,000. Mariner LLC acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $272,000. FMR LLC boosted its stake in shares of MoonLake Immunotherapeutics by 28.1% during the 4th quarter. FMR LLC now owns 6,341,391 shares of the company's stock worth $343,386,000 after acquiring an additional 1,391,167 shares in the last quarter. Federated Hermes Inc. grew its position in shares of MoonLake Immunotherapeutics by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company's stock valued at $69,315,000 after acquiring an additional 149,724 shares during the period. Finally, Finepoint Capital LP increased its stake in shares of MoonLake Immunotherapeutics by 15.2% in the 4th quarter. Finepoint Capital LP now owns 447,935 shares of the company's stock valued at $24,256,000 after purchasing an additional 59,100 shares in the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on MLTX. Needham & Company LLC raised their price objective on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Royal Bank of Canada started coverage on shares of MoonLake Immunotherapeutics in a research 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. Finally, HC Wainwright reiterated a "buy" rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $80.50.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock traded down $0.41 during trading hours on Tuesday, reaching $39.60. The company had a trading volume of 187,843 shares, compared to its average volume of 343,927. MoonLake Immunotherapeutics has a 12-month low of $31.42 and a 12-month high of $58.26. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of -30.69 and a beta of 1.32. The stock has a fifty day moving average of $38.97 and a 200-day moving average of $45.84.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued 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, analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS 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.