Westfield Capital Management Co. LP lifted its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,167,358 shares of the company's stock after acquiring an additional 49,733 shares during the period. Westfield Capital Management Co. LP owned approximately 1.83% of MoonLake Immunotherapeutics worth $58,858,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE bought a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter worth $44,000. Quarry LP boosted its holdings in MoonLake Immunotherapeutics by 172.7% during the second quarter. Quarry LP now owns 3,000 shares of the company's stock worth $132,000 after purchasing an additional 1,900 shares during the last quarter. DNB Asset Management AS grew its position in MoonLake Immunotherapeutics by 29.8% in the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company's stock worth $324,000 after purchasing an additional 1,694 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of MoonLake Immunotherapeutics by 26.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company's stock worth $655,000 after buying an additional 2,700 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new position in shares of MoonLake Immunotherapeutics in the 3rd quarter worth approximately $706,000. Institutional investors and hedge funds own 93.85% of the company's stock.
Analyst Ratings Changes
A number of analysts recently commented on MLTX shares. Needham & Company LLC reaffirmed a "buy" rating and set a $62.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Wedbush reaffirmed an "outperform" rating and set a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. 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 reiterated 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $79.00.
Check Out Our Latest Analysis on MLTX
MoonLake Immunotherapeutics Price Performance
Shares of MLTX traded down $0.15 during trading hours on Monday, hitting $54.17. The company's stock had a trading volume of 296,239 shares, compared to its average volume of 370,120. The business has a 50 day simple moving average of $50.11 and a two-hundred day simple moving average of $46.02. MoonLake Immunotherapeutics has a 52-week low of $37.55 and a 52-week high of $64.98. The company has a market cap of $3.46 billion, a price-to-earnings ratio of -42.38 and a beta of 1.28.
MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.12). During the same quarter last year, the firm posted ($0.18) EPS. Research analysts predict that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Simon Sturge sold 171,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director now directly owns 171,980 shares in the company, valued at approximately $9,238,765.60. This represents a 49.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.02% of the stock is currently owned by company insiders.
About MoonLake Immunotherapeutics
(
Free Report)
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.
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