Logos Global Management LP Takes Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Logos Global Management LP acquired a new position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 750,000 shares of the company’s stock, valued at approximately $32,978,000. MoonLake Immunotherapeutics accounts for 2.6% of Logos Global Management LP’s portfolio, making the stock its 12th biggest position. Logos Global Management LP owned approximately 1.17% of MoonLake Immunotherapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MLTX. Quarry LP bought a new stake in MoonLake Immunotherapeutics during the fourth quarter worth approximately $51,000. Bellevue Group AG bought a new position in shares of MoonLake Immunotherapeutics during the 1st quarter valued at $221,000. PNC Financial Services Group Inc. raised its holdings 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 worth $371,000 after acquiring an additional 2,067 shares during the period. DNB Asset Management AS raised its holdings in MoonLake Immunotherapeutics by 29.8% in the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock worth $324,000 after acquiring an additional 1,694 shares during the period. Finally, SG Americas Securities LLC bought a new position in MoonLake Immunotherapeutics in the 1st quarter worth $726,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Trading Up 2.5 %

Shares of MoonLake Immunotherapeutics stock opened at $55.40 on Tuesday. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of -73.87 and a beta of 1.26. MoonLake Immunotherapeutics has a 1-year low of $35.11 and a 1-year high of $64.98. The firm’s 50-day moving average price is $46.96 and its two-hundred day moving average price is $44.79.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same period in the previous year, the company earned ($0.23) EPS. As a group, equities research analysts predict that MoonLake Immunotherapeutics will post -1.45 EPS for the current year.

Analysts Set New Price Targets

MLTX has been the topic of several recent analyst reports. Oppenheimer began coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday. Wolfe Research cut shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 26th. Needham & Company LLC reissued a “buy” rating and issued a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $80.45.

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.