UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 96.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,814 shares of the company's stock after purchasing an additional 17,580 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.06% of MoonLake Immunotherapeutics worth $1,806,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. FMR LLC grew its position in MoonLake Immunotherapeutics by 35.8% in the third 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. The Manufacturers Life Insurance Company boosted its holdings in shares of MoonLake Immunotherapeutics by 3.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 118,126 shares of the company's stock worth $5,956,000 after purchasing an additional 3,892 shares during the period. Westfield Capital Management Co. LP increased its position in shares of MoonLake Immunotherapeutics by 4.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,167,358 shares of the company's stock valued at $58,858,000 after purchasing an additional 49,733 shares during the last quarter. Victory Capital Management Inc. raised its holdings in MoonLake Immunotherapeutics by 24.7% during the 3rd quarter. Victory Capital Management Inc. now owns 217,839 shares of the company's stock valued at $10,983,000 after buying an additional 43,157 shares during the period. Finally, GSA Capital Partners LLP lifted its position in MoonLake Immunotherapeutics by 1.9% in the third quarter. GSA Capital Partners LLP now owns 22,127 shares of the company's stock worth $1,116,000 after buying an additional 403 shares during the last quarter. Institutional investors own 93.85% of the company's stock.

Insider Activity

In other news, Director Simon Sturge sold 171,000 shares of MoonLake Immunotherapeutics stock in a transaction on Friday, October 4th. The stock was sold at an average price of $53.72, for a total value of $9,186,120.00. Following the transaction, the director now directly owns 171,980 shares in the company, valued at approximately $9,238,765.60. This trade represents a 49.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MLTX shares. Needham & Company LLC reissued a "buy" rating and issued a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Wedbush reissued an "outperform" rating and issued a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Wolfe Research cut MoonLake Immunotherapeutics from an "outperform" rating to a "peer perform" rating in a research note on Monday, August 26th. HC Wainwright reissued a "buy" rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $79.88.

MoonLake Immunotherapeutics Stock Performance

MLTX traded up $1.64 during trading on Monday, hitting $52.98. 186,218 shares of the stock were exchanged, compared to its average volume of 357,414. The firm has a 50 day simple moving average of $50.48 and a 200 day simple moving average of $47.38. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of -40.84 and a beta of 1.31. MoonLake Immunotherapeutics has a 1 year low of $37.55 and a 1 year high of $64.98.

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