Wellington Management Group LLP Sells 92,960 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Wellington Management Group LLP trimmed its position in MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 48.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,098 shares of the company's stock after selling 92,960 shares during the period. Wellington Management Group LLP owned approximately 0.16% of MoonLake Immunotherapeutics worth $5,366,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter valued at approximately $244,000. Barclays PLC grew its position in MoonLake Immunotherapeutics by 1,269.2% in the 3rd quarter. Barclays PLC now owns 5,641 shares of the company's stock valued at $283,000 after purchasing an additional 5,229 shares during the period. Teacher Retirement System of Texas increased its stake in MoonLake Immunotherapeutics by 18.4% during the 4th quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company's stock valued at $354,000 after purchasing an additional 1,013 shares in the last quarter. LPL Financial LLC raised its holdings in MoonLake Immunotherapeutics by 19.5% during the fourth quarter. LPL Financial LLC now owns 8,146 shares of the company's stock worth $441,000 after buying an additional 1,332 shares during the last quarter. Finally, DnB Asset Management AS lifted its stake in shares of MoonLake Immunotherapeutics by 11.3% in the fourth quarter. DnB Asset Management AS now owns 8,356 shares of the company's stock valued at $452,000 after buying an additional 847 shares in the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several research firms have recently commented on MLTX. Royal Bank of Canada started coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $67.00 target price for the company. Needham & Company LLC increased their price objective on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. The Goldman Sachs Group dropped their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, HC Wainwright reiterated a "buy" rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $80.50.

MoonLake Immunotherapeutics Stock Performance

Shares of MoonLake Immunotherapeutics stock traded up $0.58 during mid-day trading on Tuesday, hitting $36.33. 108,515 shares of the stock were exchanged, compared to its average volume of 344,389. The company has a market capitalization of $2.33 billion, a P/E ratio of -28.16 and a beta of 1.32. The company has a 50-day simple moving average of $39.63 and a 200 day simple moving average of $46.34. MoonLake Immunotherapeutics has a 12 month low of $31.42 and a 12 month high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.09). Analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

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.