Pictet Asset Management Holding SA Sells 10,219 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Pictet Asset Management Holding SA cut its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 2.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 346,617 shares of the company’s stock after selling 10,219 shares during the quarter. Pictet Asset Management Holding SA’s holdings in MoonLake Immunotherapeutics were worth $18,769,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in shares of MoonLake Immunotherapeutics during the fourth quarter worth approximately $244,000. Barclays PLC boosted its stake in shares of MoonLake Immunotherapeutics by 1,269.2% in the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock valued at $283,000 after buying an additional 5,229 shares during the period. Teacher Retirement System of Texas grew its position in MoonLake Immunotherapeutics by 18.4% during the fourth quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company’s stock worth $354,000 after buying an additional 1,013 shares in the last quarter. LPL Financial LLC increased its stake in MoonLake Immunotherapeutics by 19.5% during the 4th quarter. LPL Financial LLC now owns 8,146 shares of the company’s stock worth $441,000 after acquiring an additional 1,332 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in MoonLake Immunotherapeutics by 3.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company’s stock valued at $460,000 after acquiring an additional 320 shares in the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Trading Down 7.0 %

Shares of MoonLake Immunotherapeutics stock opened at $36.35 on Wednesday. The firm has a market capitalization of $2.33 billion, a PE ratio of -28.18 and a beta of 1.31. The firm’s 50 day moving average is $41.89 and its 200 day moving average is $47.60. MoonLake Immunotherapeutics has a 1 year low of $36.34 and a 1 year high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.09). As a group, research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MLTX shares. HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. Needham & Company LLC raised their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group cut their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Royal Bank of Canada began coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, MoonLake Immunotherapeutics presently has a consensus rating of “Buy” and a consensus price target of $80.50.

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.