PNC Financial Services Group Inc. Buys 2,067 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

PNC Financial Services Group Inc. lifted its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 50.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,147 shares of the company’s stock after acquiring an additional 2,067 shares during the period. PNC Financial Services Group Inc.’s holdings in MoonLake Immunotherapeutics were worth $371,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Perceptive Advisors LLC bought a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth $4,976,000. Quarry LP bought a new stake in MoonLake Immunotherapeutics during the fourth quarter valued at $51,000. Price T Rowe Associates Inc. MD boosted its stake in MoonLake Immunotherapeutics by 9.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock valued at $139,744,000 after buying an additional 196,144 shares during the period. Parkman Healthcare Partners LLC boosted its stake in MoonLake Immunotherapeutics by 53.9% during the fourth quarter. Parkman Healthcare Partners LLC now owns 82,009 shares of the company’s stock valued at $4,953,000 after buying an additional 28,716 shares during the period. Finally, Avoro Capital Advisors LLC boosted its stake in MoonLake Immunotherapeutics by 29.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock valued at $155,806,000 after buying an additional 580,001 shares during the period. 93.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MLTX. The Goldman Sachs Group began coverage on MoonLake Immunotherapeutics in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price objective for the company. Oppenheimer began coverage on MoonLake Immunotherapeutics in a research note on Tuesday, June 25th. They set an “outperform” rating and a $104.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 11th. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Monday, June 10th. Finally, Wedbush reaffirmed an “outperform” rating and set a $92.00 price target on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $79.00.

MoonLake Immunotherapeutics Trading Up 5.5 %

MLTX opened at $43.97 on Friday. The company has a market cap of $2.81 billion, a P/E ratio of -58.63 and a beta of 1.25. The business’s 50-day moving average price is $41.40 and its 200-day moving average price is $49.39. MoonLake Immunotherapeutics has a 12 month low of $35.11 and a 12 month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Sunday, May 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Equities research analysts forecast that MoonLake Immunotherapeutics will post -1.21 earnings per share 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.