MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,500 shares of the company’s stock after buying an additional 320 shares during the period. PNC Financial Services Group Inc.’s holdings in MoonLake Immunotherapeutics were worth $460,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC raised its stake in MoonLake Immunotherapeutics by 1,269.2% in the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock valued at $283,000 after buying an additional 5,229 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in MoonLake Immunotherapeutics in the third quarter valued at $741,000. Y Intercept Hong Kong Ltd raised its stake in MoonLake Immunotherapeutics by 55.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 20,325 shares of the company’s stock valued at $1,025,000 after buying an additional 7,247 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 in the last quarter. Finally, HighVista Strategies LLC raised its stake in MoonLake Immunotherapeutics by 3.1% in the third quarter. HighVista Strategies LLC now owns 43,541 shares of the company’s stock valued at $2,195,000 after buying an additional 1,292 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MLTX shares. The Goldman Sachs Group cut their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada started coverage on MoonLake Immunotherapeutics in a research report on Tuesday. They set an “outperform” rating and a $67.00 target price on the stock. Needham & Company LLC lifted their target price on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $80.50.

MoonLake Immunotherapeutics Stock Up 0.7 %

Shares of MLTX stock opened at $39.92 on Thursday. The stock has a market capitalization of $2.56 billion, a PE ratio of -30.95 and a beta of 1.31. MoonLake Immunotherapeutics has a 52-week low of $36.52 and a 52-week high of $58.26. The stock’s 50-day moving average price is $42.90 and its 200 day moving average price is $48.10.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). Analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

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.