Avoro Capital Advisors LLC Has $121.80 Million Stock Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Avoro Capital Advisors LLC grew its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,770,000 shares of the company’s stock after buying an additional 190,000 shares during the quarter. MoonLake Immunotherapeutics makes up approximately 1.6% of Avoro Capital Advisors LLC’s portfolio, making the stock its 17th largest position. Avoro Capital Advisors LLC owned approximately 4.34% of MoonLake Immunotherapeutics worth $121,797,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Perceptive Advisors LLC acquired a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at $4,976,000. SG Americas Securities LLC purchased a new position in MoonLake Immunotherapeutics during the 1st quarter valued at about $726,000. Westfield Capital Management Co. LP lifted its position in shares of MoonLake Immunotherapeutics by 48.8% in the first quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock worth $45,753,000 after purchasing an additional 298,823 shares in the last quarter. Finepoint Capital LP grew its position in MoonLake Immunotherapeutics by 170.1% during the fourth quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock valued at $54,049,000 after purchasing an additional 563,584 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new position in MoonLake Immunotherapeutics in the 1st quarter valued at approximately $1,434,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on MLTX. Wolfe Research cut shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. HC Wainwright restated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and set a $62.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Finally, Oppenheimer assumed coverage on MoonLake Immunotherapeutics in a report on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.45.

MoonLake Immunotherapeutics Price Performance

Shares of MoonLake Immunotherapeutics stock opened at $54.04 on Monday. The company has a market cap of $3.45 billion, a PE ratio of -72.05 and a beta of 1.26. The firm has a fifty day moving average price of $46.83 and a two-hundred day moving average price of $44.72. 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 posted 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 period in the previous year, the business posted ($0.23) EPS. Analysts expect that MoonLake Immunotherapeutics will post -1.45 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.