MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 54.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,229 shares of the company's stock after selling 11,096 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in MoonLake Immunotherapeutics were worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MLTX. Congress Asset Management Co. acquired a new stake in MoonLake Immunotherapeutics during the third quarter worth about $3,360,000. US Bancorp DE acquired a new stake in shares of MoonLake Immunotherapeutics during the 3rd quarter worth approximately $44,000. Rice Hall James & Associates LLC purchased a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter valued at approximately $3,805,000. Harbor Capital Advisors Inc. lifted its stake in shares of MoonLake Immunotherapeutics by 100.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company's stock valued at $3,906,000 after purchasing an additional 38,779 shares during the period. Finally, AlphaCentric Advisors LLC purchased a new stake in MoonLake Immunotherapeutics during the third quarter worth $706,000. Hedge funds and other institutional investors own 93.85% of the company's stock.

Analyst Ratings Changes

MLTX has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price objective on shares of 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 upped their price target on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Finally, Wedbush restated an "outperform" rating and issued a $73.00 price objective (down from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MoonLake Immunotherapeutics has a consensus rating of "Buy" and an average target price of $83.20.

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MoonLake Immunotherapeutics Price Performance

MLTX stock traded down $0.31 during trading on Wednesday, hitting $39.99. The stock had a trading volume of 217,686 shares, compared to its average volume of 342,584. The company's 50-day moving average price is $46.00 and its two-hundred day moving average price is $48.84. MoonLake Immunotherapeutics has a twelve month low of $37.55 and a twelve month high of $58.26. The stock has a market capitalization of $2.56 billion, a P/E ratio of -31.00 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.09). As a group, sell-side analysts expect 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.