Victory Capital Management Inc. Has $10.98 Million Stock Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Victory Capital Management Inc. grew its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 24.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 217,839 shares of the company's stock after buying an additional 43,157 shares during the period. Victory Capital Management Inc. owned 0.34% of MoonLake Immunotherapeutics worth $10,983,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Clearbridge Investments LLC acquired a new stake in MoonLake Immunotherapeutics during the 1st quarter worth $1,434,000. Vanguard Group Inc. lifted its stake in shares of MoonLake Immunotherapeutics by 25.3% in the 1st quarter. Vanguard Group Inc. now owns 92,298 shares of the company's stock worth $4,636,000 after acquiring an additional 18,641 shares during the period. Rice Hall James & Associates LLC purchased a new position in MoonLake Immunotherapeutics during the third quarter worth about $3,805,000. Harbor Capital Advisors Inc. boosted its holdings in 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 in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in MoonLake Immunotherapeutics by 37.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,234 shares of the company's stock worth $5,023,000 after purchasing an additional 31,401 shares during the period. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Trading Up 1.0 %

MoonLake Immunotherapeutics stock opened at $49.82 on Thursday. The firm has a 50 day simple moving average of $49.96 and a 200-day simple moving average of $45.84. MoonLake Immunotherapeutics has a 12-month low of $37.55 and a 12-month high of $64.98.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wedbush reaffirmed an "outperform" rating and set a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Needham & Company LLC restated a "buy" rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Wolfe Research lowered shares of MoonLake Immunotherapeutics from an "outperform" rating to a "peer perform" rating in a research report on Monday, August 26th. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $79.00.

Insider Transactions at MoonLake Immunotherapeutics

In related news, Director Simon Sturge sold 171,000 shares of MoonLake Immunotherapeutics stock in a transaction on Friday, October 4th. The shares were sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the sale, the director now owns 171,980 shares of the company's stock, valued at approximately $9,238,765.60. The trade was a 49.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.02% of the stock is currently owned by insiders.

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.