MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Bought by Quarry LP

Quarry LP raised its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 172.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,000 shares of the company’s stock after acquiring an additional 1,900 shares during the period. Quarry LP’s holdings in MoonLake Immunotherapeutics were worth $132,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bellevue Group AG purchased a new stake in shares of MoonLake Immunotherapeutics during the 1st quarter valued at $221,000. DNB Asset Management AS boosted its position in 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 purchasing an additional 1,694 shares during the period. PNC Financial Services Group Inc. boosted its position in MoonLake Immunotherapeutics by 50.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock worth $371,000 after purchasing an additional 2,067 shares during the period. SG Americas Securities LLC purchased a new stake in MoonLake Immunotherapeutics during the 1st quarter worth $726,000. Finally, California State Teachers Retirement System boosted its position in MoonLake Immunotherapeutics by 2.7% during the 1st quarter. California State Teachers Retirement System now owns 16,366 shares of the company’s stock worth $822,000 after purchasing an additional 429 shares during the period. 93.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MLTX has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Oppenheimer started coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 price objective for the company. Wolfe Research cut shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Moderate Buy” and a consensus price target of $80.45.

MoonLake Immunotherapeutics Stock Up 2.6 %

MLTX opened at $51.72 on Wednesday. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -68.96 and a beta of 1.26. MoonLake Immunotherapeutics has a fifty-two week low of $35.11 and a fifty-two week high of $64.98. The company’s 50-day moving average price is $47.46 and its 200 day moving average price is $45.00.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same period in the previous year, the business posted ($0.23) EPS. Research analysts anticipate that MoonLake Immunotherapeutics will post -1.57 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.