Avoro Capital Advisors LLC Has $121.80 Million Stock Holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Avoro Capital Advisors LLC raised its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,770,000 shares of the company’s stock after acquiring an additional 190,000 shares during the quarter. MoonLake Immunotherapeutics comprises approximately 1.6% of Avoro Capital Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Avoro Capital Advisors LLC’s holdings in MoonLake Immunotherapeutics were worth $121,797,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. raised its position in shares of MoonLake Immunotherapeutics by 2.6% during the second quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock worth $49,617,000 after acquiring an additional 28,672 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of MoonLake Immunotherapeutics by 16.0% during the second quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock worth $7,681,000 after buying an additional 24,037 shares during the last quarter. TD Asset Management Inc lifted its holdings in MoonLake Immunotherapeutics by 2.5% in the second quarter. TD Asset Management Inc now owns 209,234 shares of the company’s stock valued at $9,200,000 after buying an additional 5,140 shares during the period. Harbor Capital Advisors Inc. boosted its stake in MoonLake Immunotherapeutics by 371.4% in the second quarter. Harbor Capital Advisors Inc. now owns 38,689 shares of the company’s stock valued at $1,701,000 after acquiring an additional 30,481 shares during the last quarter. Finally, DNB Asset Management AS grew its holdings 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 acquiring an additional 1,694 shares during the period. 93.85% of the stock is owned by institutional investors.

MoonLake Immunotherapeutics Stock Up 0.6 %

NASDAQ:MLTX opened at $54.04 on Monday. The company has a market cap of $3.45 billion, a P/E ratio of -72.05 and a beta of 1.26. MoonLake Immunotherapeutics has a twelve month low of $35.11 and a twelve month high of $64.98. The business has a 50 day moving average price of $46.83 and a two-hundred day moving average price of $44.72.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results 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 quarter last year, the company earned ($0.23) EPS. As a group, analysts anticipate that MoonLake Immunotherapeutics will post -1.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on MLTX. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Oppenheimer assumed coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 25th. They set an “outperform” rating and a $104.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 9th. Wolfe Research downgraded MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, September 12th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, MoonLake Immunotherapeutics currently has an average rating of “Moderate Buy” and an average price target of $80.45.

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.