Victory Capital Management Inc. Grows Holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Victory Capital Management Inc. raised its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 24.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,839 shares of the company’s stock after purchasing an additional 43,157 shares during the period. Victory Capital Management Inc. owned about 0.34% of MoonLake Immunotherapeutics worth $10,983,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE purchased a new position in MoonLake Immunotherapeutics in the 3rd quarter valued at about $44,000. Quarry LP lifted its holdings in shares of MoonLake Immunotherapeutics by 172.7% during the 2nd quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $132,000 after acquiring an additional 1,900 shares during the period. Bellevue Group AG purchased a new position in shares of MoonLake Immunotherapeutics during the 1st quarter worth about $221,000. DNB Asset Management AS lifted its holdings in shares of MoonLake Immunotherapeutics by 29.8% during 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, Handelsbanken Fonder AB lifted its holdings in shares of MoonLake Immunotherapeutics by 26.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock worth $655,000 after acquiring an additional 2,700 shares during the period. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the completion of the sale, the director now owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. This trade represents a 49.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.02% of the stock is owned by corporate insiders.

MoonLake Immunotherapeutics Stock Up 1.0 %

Shares of NASDAQ:MLTX opened at $49.82 on Thursday. MoonLake Immunotherapeutics has a 52-week low of $37.55 and a 52-week high of $64.98. The company has a 50 day moving average of $49.96 and a two-hundred day moving average of $45.84. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of -38.62 and a beta of 1.28.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same quarter in the prior year, the business earned ($0.18) EPS. On average, equities analysts anticipate that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Wedbush restated an “outperform” rating and issued a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Finally, Wolfe Research lowered shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

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.