Marshall Wace LLP Increases Stock Holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Marshall Wace LLP raised its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,245,299 shares of the company’s stock after purchasing an additional 90,914 shares during the quarter. Marshall Wace LLP’s holdings in MoonLake Immunotherapeutics were worth $67,433,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its position in shares of MoonLake Immunotherapeutics by 28.1% during the fourth 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 period. Federated Hermes Inc. grew its holdings in shares of MoonLake Immunotherapeutics by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company’s stock worth $69,315,000 after acquiring an additional 149,724 shares during the period. Alliancebernstein L.P. raised its position in shares of MoonLake Immunotherapeutics by 2.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,022,604 shares of the company’s stock worth $55,374,000 after acquiring an additional 24,464 shares in the last quarter. Finepoint Capital LP lifted its stake in shares of MoonLake Immunotherapeutics by 15.2% in the 4th quarter. Finepoint Capital LP now owns 447,935 shares of the company’s stock valued at $24,256,000 after purchasing an additional 59,100 shares during the period. Finally, Rice Hall James & Associates LLC boosted its position in shares of MoonLake Immunotherapeutics by 47.3% during the fourth quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company’s stock valued at $6,018,000 after purchasing an additional 35,664 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $36.97 on Thursday. The firm has a market cap of $2.37 billion, a P/E ratio of -28.66 and a beta of 1.32. MoonLake Immunotherapeutics has a fifty-two week low of $31.42 and a fifty-two week high of $58.26. The firm has a 50-day simple moving average of $39.26 and a two-hundred day simple moving average of $46.21.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on MLTX shares. The Goldman Sachs Group decreased their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company 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 price objective on the stock. Needham & Company LLC upped their price objective on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average 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.