75,469 Shares in MoonLake Immunotherapeutics (NASDAQ:MLTX) Bought by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC bought a new stake in MoonLake Immunotherapeutics (NASDAQ:MLTX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 75,469 shares of the company’s stock, valued at approximately $3,805,000.

Several other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in shares of MoonLake Immunotherapeutics by 2.7% during the 1st quarter. California State Teachers Retirement System now owns 16,366 shares of the company’s stock valued at $822,000 after purchasing an additional 429 shares in the last quarter. US Bancorp DE bought a new stake in MoonLake Immunotherapeutics during the third quarter worth approximately $44,000. DNB Asset Management AS grew its holdings in MoonLake Immunotherapeutics by 29.8% during the second quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock valued at $324,000 after purchasing an additional 1,694 shares during the last quarter. Quarry LP raised its position in shares of MoonLake Immunotherapeutics by 172.7% in the second quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $132,000 after purchasing an additional 1,900 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of MoonLake Immunotherapeutics by 26.2% in the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after purchasing an additional 2,700 shares during the period. 93.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, October 15th. Wolfe Research downgraded MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 26th. Needham & Company LLC reissued a “buy” rating and set a $62.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MoonLake Immunotherapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $80.45.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $46.76 on Friday. The company has a market capitalization of $2.99 billion, a P/E ratio of -51.38 and a beta of 1.26. MoonLake Immunotherapeutics has a one year low of $35.11 and a one year high of $64.98. The business’s 50 day simple moving average is $49.17 and its 200-day simple moving average is $45.13.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data 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 earned ($0.23) earnings per share. On average, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -1.54 EPS for the current fiscal year.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction dated 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 owns 171,980 shares in the company, valued at approximately $9,238,765.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.02% of the stock is owned by corporate insiders.

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.