MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 100.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,468 shares of the company's stock after purchasing an additional 38,779 shares during the quarter. Harbor Capital Advisors Inc. owned 0.12% of MoonLake Immunotherapeutics worth $3,906,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Rice Hall James & Associates LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the third quarter valued at approximately $3,805,000. US Bancorp DE purchased a new position in shares of MoonLake Immunotherapeutics during the third quarter valued at $44,000. Congress Asset Management Co. bought a new stake in shares of MoonLake Immunotherapeutics in the third quarter valued at about $3,360,000. Handelsbanken Fonder AB lifted its stake in 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. Finally, Quarry LP grew its holdings in MoonLake Immunotherapeutics by 172.7% during the 2nd quarter. Quarry LP now owns 3,000 shares of the company's stock worth $132,000 after acquiring an additional 1,900 shares in the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Needham & Company LLC restated a "buy" rating and issued a $62.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, October 15th. Wolfe Research cut MoonLake Immunotherapeutics from an "outperform" rating to a "peer perform" rating in a research note on Monday, August 26th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $80.45.

Insider Activity

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of MoonLake Immunotherapeutics stock in a transaction that occurred on 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 sale, the director now directly owns 171,980 shares in the company, valued at approximately $9,238,765.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 12.02% of the company's stock.

MoonLake Immunotherapeutics Price Performance

MoonLake Immunotherapeutics stock traded down $0.36 during mid-day trading on Monday, reaching $46.40. 310,727 shares of the company traded hands, compared to its average volume of 379,418. The firm's fifty day moving average is $49.11 and its two-hundred day moving average is $45.17. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -51.38 and a beta of 1.28. MoonLake Immunotherapeutics has a fifty-two week low of $35.11 and a fifty-two week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same quarter in the previous year, the business earned ($0.23) earnings per share. As a group, equities research analysts predict that MoonLake Immunotherapeutics will post -1.54 earnings per share for the current year.

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.