MoonLake Immunotherapeutics (NASDAQ:MLTX) Stake Lifted by Quarry LP

Quarry LP increased its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 172.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the company’s stock after acquiring an additional 1,900 shares during the period. Quarry LP’s holdings in MoonLake Immunotherapeutics were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MLTX. Logos Global Management LP bought a new stake in MoonLake Immunotherapeutics during the second quarter worth approximately $32,978,000. Marshall Wace LLP lifted its position in shares of MoonLake Immunotherapeutics by 115.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after acquiring an additional 587,684 shares in the last quarter. Avoro Capital Advisors LLC lifted its position in shares of MoonLake Immunotherapeutics by 29.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock valued at $155,806,000 after acquiring an additional 580,001 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of MoonLake Immunotherapeutics by 48.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock valued at $45,753,000 after acquiring an additional 298,823 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of MoonLake Immunotherapeutics by 9.3% in the 4th 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 in the last quarter. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ:MLTX opened at $51.72 on Wednesday. MoonLake Immunotherapeutics has a 52 week low of $35.11 and a 52 week high of $64.98. The company has a market capitalization of $3.30 billion, a PE ratio of -68.96 and a beta of 1.26. The company has a 50 day moving average price of $47.46 and a two-hundred day moving average price of $45.00.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same period in the prior year, the company earned ($0.23) EPS. On average, sell-side analysts forecast that MoonLake Immunotherapeutics will post -1.57 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on MLTX. Needham & Company LLC restated a “buy” rating and issued a $62.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Oppenheimer started coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. 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 restated a “buy” rating and issued 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 given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.