MoonLake Immunotherapeutics (NASDAQ:MLTX) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lessened its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 659,029 shares of the company’s stock after selling 7,693 shares during the quarter. Fred Alger Management LLC owned 1.03% of MoonLake Immunotherapeutics worth $28,978,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Logos Global Management LP acquired a new position in MoonLake Immunotherapeutics in the 2nd quarter worth approximately $32,978,000. Marshall Wace LLP increased its stake in shares of MoonLake Immunotherapeutics by 115.0% in the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock worth $48,307,000 after acquiring an additional 587,684 shares during the period. Avoro Capital Advisors LLC raised its holdings in shares of MoonLake Immunotherapeutics by 29.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock worth $155,806,000 after purchasing an additional 580,001 shares during the last quarter. Finepoint Capital LP lifted its position in MoonLake Immunotherapeutics by 170.1% during the fourth quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock valued at $54,049,000 after purchasing an additional 563,584 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings 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 valued at $45,753,000 after purchasing an additional 298,823 shares during the last quarter. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Stock Down 2.1 %

Shares of MoonLake Immunotherapeutics stock opened at $54.26 on Wednesday. The firm has a market cap of $3.47 billion, a PE ratio of -72.35 and a beta of 1.26. MoonLake Immunotherapeutics has a 52 week low of $35.11 and a 52 week high of $64.98. The business’s fifty day simple moving average is $47.04 and its 200-day simple moving average is $44.85.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) EPS 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. As a group, equities analysts expect that MoonLake Immunotherapeutics will post -1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

MoonLake Immunotherapeutics Company 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.