Granahan Investment Management LLC Sells 36,196 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Granahan Investment Management LLC lowered its stake in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 21.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 136,438 shares of the company’s stock after selling 36,196 shares during the quarter. Granahan Investment Management LLC’s holdings in MoonLake Immunotherapeutics were worth $7,388,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MLTX. FMR LLC raised its holdings in MoonLake Immunotherapeutics by 28.1% during the 4th quarter. FMR LLC now owns 6,341,391 shares of the company’s stock valued at $343,386,000 after buying an additional 1,391,167 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of MoonLake Immunotherapeutics by 12.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock valued at $181,059,000 after acquiring an additional 363,394 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of MoonLake Immunotherapeutics by 13.2% during the fourth quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company’s stock worth $69,315,000 after purchasing an additional 149,724 shares during the period. Marshall Wace LLP grew its stake in shares of MoonLake Immunotherapeutics by 7.9% in the fourth quarter. Marshall Wace LLP now owns 1,245,299 shares of the company’s stock worth $67,433,000 after purchasing an additional 90,914 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in MoonLake Immunotherapeutics during the 4th quarter valued at approximately $3,485,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ MLTX opened at $38.47 on Friday. MoonLake Immunotherapeutics has a 1 year low of $31.42 and a 1 year high of $58.26. The firm has a 50-day moving average of $38.47 and a 200 day moving average of $45.10. The stock has a market cap of $2.46 billion, a P/E ratio of -29.82 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.09). Research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Wednesday, April 30th. HC Wainwright restated a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Royal Bank of Canada started coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They set an “outperform” rating and a $67.00 target price on the stock. Finally, The Goldman Sachs Group decreased their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $80.50.

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.