Victory Capital Management Inc. Acquires 24,037 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Victory Capital Management Inc. raised its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 16.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 174,682 shares of the company’s stock after acquiring an additional 24,037 shares during the period. Victory Capital Management Inc. owned approximately 0.27% of MoonLake Immunotherapeutics worth $7,681,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Avoro Capital Advisors LLC lifted its position in MoonLake Immunotherapeutics by 29.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock valued at $155,806,000 after purchasing an additional 580,001 shares during the last quarter. Finepoint Capital LP lifted its holdings in shares of MoonLake Immunotherapeutics by 170.1% during the 4th quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock worth $54,049,000 after acquiring an additional 563,584 shares during the last quarter. Westfield Capital Management Co. LP grew its position in MoonLake Immunotherapeutics by 48.8% in the first quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock worth $45,753,000 after acquiring an additional 298,823 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in MoonLake Immunotherapeutics by 9.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,314,012 shares of the company’s stock valued at $139,744,000 after acquiring an additional 196,144 shares during the last quarter. Finally, Decheng Capital LLC bought a new stake in MoonLake Immunotherapeutics during the first quarter worth about $8,368,000. Institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Trading Up 0.2 %

MoonLake Immunotherapeutics stock opened at $51.14 on Monday. MoonLake Immunotherapeutics has a 1-year low of $35.11 and a 1-year high of $64.98. The firm has a market cap of $3.27 billion, a P/E ratio of -68.19 and a beta of 1.26. The firm has a 50-day moving average of $46.12 and a 200-day moving average of $44.67.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same period in the previous year, the company posted ($0.23) earnings per share. Research analysts forecast that MoonLake Immunotherapeutics will post -1.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MLTX shares. Oppenheimer started coverage on MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They set an “outperform” rating and a $104.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 9th. Needham & Company LLC restated a “buy” rating and issued a $62.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday. Wolfe Research lowered shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.45.

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.