MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,126 shares of the company’s stock after purchasing an additional 3,892 shares during the period. The Manufacturers Life Insurance Company owned 0.18% of MoonLake Immunotherapeutics worth $5,956,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in MoonLake Immunotherapeutics by 25.3% during the first quarter. Vanguard Group Inc. now owns 92,298 shares of the company’s stock worth $4,636,000 after acquiring an additional 18,641 shares during the last quarter. California State Teachers Retirement System grew its position in shares of MoonLake Immunotherapeutics by 2.7% in the first quarter. California State Teachers Retirement System now owns 16,366 shares of the company’s stock valued at $822,000 after purchasing an additional 429 shares during the period. TD Asset Management Inc increased its stake in MoonLake Immunotherapeutics by 2.5% in the second quarter. TD Asset Management Inc now owns 209,234 shares of the company’s stock valued at $9,200,000 after purchasing an additional 5,140 shares during the last quarter. Victory Capital Management Inc. lifted its position in MoonLake Immunotherapeutics by 16.0% during the second quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock worth $7,681,000 after buying an additional 24,037 shares during the period. Finally, Federated Hermes Inc. boosted its stake in MoonLake Immunotherapeutics by 2.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock worth $49,617,000 after buying an additional 28,672 shares during the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Up 0.8 %

Shares of NASDAQ:MLTX opened at $53.50 on Friday. MoonLake Immunotherapeutics has a 12 month low of $37.55 and a 12 month high of $64.98. The firm has a market cap of $3.42 billion, a P/E ratio of -41.47 and a beta of 1.31. The company’s 50-day moving average price is $50.30 and its two-hundred day moving average price is $46.74.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same quarter in the prior year, the business posted ($0.18) EPS. As a group, equities analysts predict that MoonLake Immunotherapeutics will post -1.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Simon Sturge sold 171,000 shares of MoonLake Immunotherapeutics stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $53.72, for a total value of $9,186,120.00. Following the sale, the director now owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. The trade was a 49.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.02% of the company’s stock.

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.