US Bancorp DE Buys Shares of 869 MoonLake Immunotherapeutics (NASDAQ:MLTX)

US Bancorp DE bought a new stake in MoonLake Immunotherapeutics (NASDAQ:MLTX) during the third quarter, Holdings Channel reports. The institutional investor bought 869 shares of the company’s stock, valued at approximately $44,000.

A number of other hedge funds have also made changes to their positions in MLTX. Clearbridge Investments LLC acquired a new position in MoonLake Immunotherapeutics in the 1st quarter valued at approximately $1,434,000. Vanguard Group Inc. increased its stake in shares of MoonLake Immunotherapeutics by 25.3% in the first quarter. Vanguard Group Inc. now owns 92,298 shares of the company’s stock worth $4,636,000 after acquiring an additional 18,641 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of MoonLake Immunotherapeutics by 16.0% in the second quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock worth $7,681,000 after acquiring an additional 24,037 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of MoonLake Immunotherapeutics by 37.9% during the second quarter. The Manufacturers Life Insurance Company now owns 114,234 shares of the company’s stock worth $5,023,000 after acquiring an additional 31,401 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in MoonLake Immunotherapeutics by 115.0% during the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after purchasing an additional 587,684 shares during the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MLTX has been the subject of a number of recent research reports. 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 reaffirmed a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday. Wedbush restated an “outperform” rating and set a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

MoonLake Immunotherapeutics Trading Down 7.0 %

NASDAQ MLTX opened at $48.83 on Monday. The company has a fifty day simple moving average of $49.87 and a 200 day simple moving average of $45.75. The company has a market cap of $3.12 billion, a P/E ratio of -37.85 and a beta of 1.28. MoonLake Immunotherapeutics has a 1 year low of $37.55 and a 1 year high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period in the previous year, the business earned ($0.18) EPS. Equities research analysts forecast that MoonLake Immunotherapeutics will post -1.74 EPS for the current fiscal year.

Insider Transactions at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the sale, the director now directly owns 171,980 shares of the company’s stock, valued at $9,238,765.60. This represents a 49.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.02% of the stock is currently owned by corporate insiders.

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.