MoonLake Immunotherapeutics (NASDAQ:MLTX) Position Increased by Federated Hermes Inc.

Federated Hermes Inc. increased its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,128,428 shares of the company’s stock after buying an additional 28,672 shares during the quarter. Federated Hermes Inc. owned about 1.77% of MoonLake Immunotherapeutics worth $49,617,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MLTX. Quarry LP acquired a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter valued at approximately $51,000. Bellevue Group AG acquired a new stake in MoonLake Immunotherapeutics in the 1st quarter valued at approximately $221,000. PNC Financial Services Group Inc. increased its position in MoonLake Immunotherapeutics by 50.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock valued at $371,000 after acquiring an additional 2,067 shares during the period. DNB Asset Management AS raised its stake in MoonLake Immunotherapeutics by 29.8% during the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock valued at $324,000 after acquiring an additional 1,694 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in MoonLake Immunotherapeutics during the 1st quarter worth $726,000. 93.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MLTX has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 9th. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday. Wolfe Research cut shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Needham & Company LLC reissued a “buy” rating and set a $62.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday. Finally, Oppenheimer began coverage on MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 target price for the company. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $80.45.

MoonLake Immunotherapeutics Stock Up 0.2 %

MLTX opened at $51.14 on Friday. The firm has a market cap of $3.27 billion, a PE ratio of -68.19 and a beta of 1.26. The business has a fifty day simple moving average of $46.12 and a 200-day simple moving average of $44.74. MoonLake Immunotherapeutics has a fifty-two week low of $35.11 and a fifty-two week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same quarter last year, the business posted ($0.23) earnings per share. On average, equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.45 EPS for the current fiscal 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.