State Street Corp Increases Stake in MoonLake Immunotherapeutics (NASDAQ:MLTX)

State Street Corp lifted its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 96.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,637 shares of the company's stock after buying an additional 42,980 shares during the period. State Street Corp owned approximately 0.14% of MoonLake Immunotherapeutics worth $4,419,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. US Bancorp DE acquired a new position in MoonLake Immunotherapeutics in the 3rd quarter worth approximately $44,000. Quarry LP boosted its holdings in shares of MoonLake Immunotherapeutics by 172.7% in the 2nd quarter. Quarry LP now owns 3,000 shares of the company's stock valued at $132,000 after acquiring an additional 1,900 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of MoonLake Immunotherapeutics by 26.2% in the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company's stock worth $655,000 after acquiring an additional 2,700 shares during the period. AlphaCentric Advisors LLC purchased a new position in shares of MoonLake Immunotherapeutics during the third quarter worth $706,000. Finally, Erste Asset Management GmbH acquired a new position in MoonLake Immunotherapeutics during the third quarter valued at $741,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Simon Sturge sold 171,000 shares of the company's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the completion of the transaction, the director now owns 171,980 shares in the company, valued at $9,238,765.60. This represents a 49.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.02% of the company's stock.

MoonLake Immunotherapeutics Trading Down 4.2 %

MLTX traded down $2.35 during trading on Monday, hitting $53.02. The company's stock had a trading volume of 161,074 shares, compared to its average volume of 352,700. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -41.10 and a beta of 1.31. MoonLake Immunotherapeutics has a twelve month low of $37.55 and a twelve month high of $64.98. The business's fifty day simple moving average is $51.45 and its 200 day simple moving average is $48.25.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.12). During the same quarter in the previous year, the business earned ($0.18) EPS. As a group, equities research analysts forecast that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wedbush reaffirmed an "outperform" rating and set a $73.00 price target (down from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, November 14th. Cantor Fitzgerald reissued an "overweight" rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, MoonLake Immunotherapeutics has a consensus rating of "Moderate Buy" and an average target price of $81.43.

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.