Fmr LLC Purchases 1,306,215 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Fmr LLC boosted its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 35.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,950,224 shares of the company’s stock after acquiring an additional 1,306,215 shares during the quarter. Fmr LLC owned approximately 7.75% of MoonLake Immunotherapeutics worth $249,590,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Avoro Capital Advisors LLC lifted its stake in shares of MoonLake Immunotherapeutics by 7.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock valued at $121,797,000 after purchasing an additional 190,000 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake 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 worth $58,858,000 after acquiring an additional 49,733 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of MoonLake Immunotherapeutics by 2.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock valued at $49,617,000 after acquiring an additional 28,672 shares during the last quarter. Marshall Wace LLP raised its stake in shares of MoonLake Immunotherapeutics by 115.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after acquiring an additional 587,684 shares in the last quarter. Finally, Logos Global Management LP acquired a new stake in MoonLake Immunotherapeutics in the 2nd quarter worth approximately $32,978,000. 93.85% of the stock is owned by institutional investors.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics 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 transaction of $9,186,120.00. Following the completion of the transaction, the director now directly owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. This trade represents a 49.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.02% of the company’s stock.

Analysts Set New Price Targets

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

MoonLake Immunotherapeutics Trading Up 0.4 %

Shares of NASDAQ MLTX opened at $54.43 on Monday. MoonLake Immunotherapeutics has a one year low of $37.55 and a one year high of $64.98. The business has a fifty day simple moving average of $50.27 and a 200 day simple moving average of $46.47. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -42.19 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period in the prior year, the company earned ($0.18) EPS. On average, research analysts anticipate that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current fiscal year.

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.