JPMorgan Chase & Co. Reduces Stock Holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX)

JPMorgan Chase & Co. trimmed its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 93.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,236 shares of the company’s stock after selling 16,472 shares during the period. JPMorgan Chase & Co.’s holdings in MoonLake Immunotherapeutics were worth $62,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MLTX. US Bancorp DE purchased a new position in MoonLake Immunotherapeutics in the third quarter worth about $44,000. Barclays PLC boosted its position in MoonLake Immunotherapeutics by 1,269.2% in the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after purchasing an additional 5,229 shares during the last quarter. Handelsbanken Fonder AB boosted its position in MoonLake Immunotherapeutics by 26.2% in the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock worth $655,000 after purchasing an additional 2,700 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in MoonLake Immunotherapeutics in the third quarter worth about $706,000. Finally, Erste Asset Management GmbH bought a new position in shares of MoonLake Immunotherapeutics in the third quarter worth about $741,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Trading Down 5.1 %

Shares of MLTX opened at $43.65 on Tuesday. The business’s 50 day moving average is $50.35 and its 200 day moving average is $49.06. The company has a market capitalization of $2.79 billion, a PE ratio of -33.84 and a beta of 1.29. MoonLake Immunotherapeutics has a 12-month low of $37.55 and a 12-month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results 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 company earned ($0.18) earnings per share. Equities research analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on MLTX. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Friday, January 10th. The Goldman Sachs Group raised MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $82.00 in a research note on Friday, January 17th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $84.29.

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.