Rice Hall James & Associates LLC Boosts Stake in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Rice Hall James & Associates LLC grew its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 47.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,133 shares of the company's stock after acquiring an additional 35,664 shares during the period. Rice Hall James & Associates LLC owned 0.17% of MoonLake Immunotherapeutics worth $6,018,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MLTX. FMR LLC grew its stake in MoonLake Immunotherapeutics by 35.8% in the 3rd quarter. FMR LLC now owns 4,950,224 shares of the company's stock worth $249,590,000 after acquiring an additional 1,306,215 shares in the last quarter. Congress Asset Management Co. bought a new position in MoonLake Immunotherapeutics in the 3rd quarter worth about $3,360,000. Westfield Capital Management Co. LP grew its stake in MoonLake Immunotherapeutics by 4.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,167,358 shares of the company's stock worth $58,858,000 after acquiring an additional 49,733 shares in the last quarter. Victory Capital Management Inc. grew its stake in MoonLake Immunotherapeutics by 24.7% in the 3rd quarter. Victory Capital Management Inc. now owns 217,839 shares of the company's stock worth $10,983,000 after acquiring an additional 43,157 shares in the last quarter. Finally, State Street Corp grew its stake in MoonLake Immunotherapeutics by 96.2% in the 3rd quarter. State Street Corp now owns 87,637 shares of the company's stock worth $4,419,000 after acquiring an additional 42,980 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors.

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MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX traded up $0.18 during midday trading on Friday, reaching $42.28. 225,280 shares of the stock traded hands, compared to its average volume of 428,491. MoonLake Immunotherapeutics has a 12-month low of $37.55 and a 12-month high of $58.26. The business has a 50-day moving average of $47.65 and a two-hundred day moving average of $49.02. The stock has a market capitalization of $2.70 billion, a PE ratio of -32.78 and a beta of 1.28.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group upgraded shares of MoonLake Immunotherapeutics from a "neutral" rating to a "buy" rating and upped their target price for the stock from $62.00 to $82.00 in a research note on Friday, January 17th. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Friday, January 10th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MoonLake Immunotherapeutics has an average rating of "Buy" and an average target price of $85.50.

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.