Wellington Management Group LLP Cuts Holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Wellington Management Group LLP lessened its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 48.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 192,058 shares of the company's stock after selling 180,599 shares during the period. Wellington Management Group LLP owned approximately 0.30% of MoonLake Immunotherapeutics worth $9,684,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. State Street Corp grew its stake in shares of MoonLake Immunotherapeutics by 96.2% during the 3rd quarter. State Street Corp now owns 87,637 shares of the company's stock worth $4,419,000 after purchasing an additional 42,980 shares during the period. Parkman Healthcare Partners LLC boosted its holdings in MoonLake Immunotherapeutics by 1.6% during the third quarter. Parkman Healthcare Partners LLC now owns 102,813 shares of the company's stock worth $5,184,000 after buying an additional 1,589 shares in the last quarter. HighVista Strategies LLC grew its position in MoonLake Immunotherapeutics by 3.1% during the third quarter. HighVista Strategies LLC now owns 43,541 shares of the company's stock worth $2,195,000 after buying an additional 1,292 shares during the period. Erste Asset Management GmbH acquired a new position in MoonLake Immunotherapeutics during the third quarter worth about $741,000. Finally, Fred Alger Management LLC increased its holdings in MoonLake Immunotherapeutics by 1.1% in the third quarter. Fred Alger Management LLC now owns 666,574 shares of the company's stock valued at $33,609,000 after buying an additional 7,545 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company's stock.

Insider Transactions at MoonLake Immunotherapeutics

In other news, Director Simon Sturge sold 171,000 shares of the 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 transaction, the director now directly owns 171,980 shares in the company, valued at $9,238,765.60. This represents a 49.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 12.02% of the company's stock.

MoonLake Immunotherapeutics Price Performance

NASDAQ:MLTX traded up $1.64 on Monday, reaching $52.98. The stock had a trading volume of 186,218 shares, compared to its average volume of 357,414. MoonLake Immunotherapeutics has a 12-month low of $37.55 and a 12-month high of $64.98. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -41.07 and a beta of 1.31. The firm's fifty day moving average is $50.50 and its two-hundred day moving average is $47.47.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its 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 period in the previous year, the business posted ($0.18) EPS. As a group, research analysts forecast that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MLTX has been the topic of a number of research reports. 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 reissued a "buy" rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, November 14th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Wolfe Research cut shares of MoonLake Immunotherapeutics from an "outperform" rating to a "peer perform" rating in a research note on Monday, August 26th. Finally, Wedbush restated an "outperform" rating and set a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $79.88.

MoonLake Immunotherapeutics 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.