MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,501 shares of the company’s stock after selling 39,338 shares during the period. Victory Capital Management Inc. owned about 0.28% of MoonLake Immunotherapeutics worth $9,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of MoonLake Immunotherapeutics by 35.8% in the third quarter. FMR LLC now owns 4,950,224 shares of the company’s stock worth $249,590,000 after acquiring an additional 1,306,215 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in MoonLake Immunotherapeutics by 4.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,167,358 shares of the company’s stock valued at $58,858,000 after purchasing an additional 49,733 shares during the last quarter. State Street Corp raised its stake in MoonLake Immunotherapeutics by 96.2% in the 3rd quarter. State Street Corp now owns 87,637 shares of the company’s stock valued at $4,419,000 after purchasing an additional 42,980 shares during the last quarter. Rice Hall James & Associates LLC raised its position in shares of MoonLake Immunotherapeutics by 47.3% in the fourth quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company’s stock valued at $6,018,000 after buying an additional 35,664 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of MoonLake Immunotherapeutics by 96.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,814 shares of the company’s stock valued at $1,806,000 after buying an additional 17,580 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MLTX. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Needham & Company LLC upped their target price on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group dropped their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $83.20.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ:MLTX opened at $37.82 on Friday. The firm has a market capitalization of $2.42 billion, a PE ratio of -29.32 and a beta of 1.31. The business has a 50-day moving average of $43.84 and a two-hundred day moving average of $48.32. MoonLake Immunotherapeutics has a 12 month low of $36.52 and a 12 month high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). As a group, research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

About MoonLake Immunotherapeutics

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.