Handelsbanken Fonder AB Has $655,000 Stock Holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Handelsbanken Fonder AB boosted its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 26.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,000 shares of the company’s stock after buying an additional 2,700 shares during the period. Handelsbanken Fonder AB’s holdings in MoonLake Immunotherapeutics were worth $655,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Quarry LP purchased a new position in MoonLake Immunotherapeutics during the 4th quarter valued at about $51,000. Bellevue Group AG purchased a new position in MoonLake Immunotherapeutics during the first quarter valued at approximately $221,000. DNB Asset Management AS increased its stake in MoonLake Immunotherapeutics by 29.8% in the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock valued at $324,000 after buying an additional 1,694 shares during the period. PNC Financial Services Group Inc. lifted its position in MoonLake Immunotherapeutics by 50.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock worth $371,000 after buying an additional 2,067 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of MoonLake Immunotherapeutics during the 1st quarter valued at $726,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other news, Director Simon Sturge sold 171,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the transaction, the director now owns 171,980 shares in the company, valued at approximately $9,238,765.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.02% of the company’s stock.

MoonLake Immunotherapeutics Price Performance

MLTX stock opened at $48.94 on Monday. The company has a 50-day moving average of $48.78 and a two-hundred day moving average of $45.02. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of -65.25 and a beta of 1.26. MoonLake Immunotherapeutics has a 52-week low of $35.11 and a 52-week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same period in the prior year, the business posted ($0.23) earnings per share. Equities analysts expect that MoonLake Immunotherapeutics will post -1.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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