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

Granahan Investment Management LLC lowered its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 21.0% in the 4th quarter, according to the company in its most recent filing 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 owned about 0.21% of MoonLake Immunotherapeutics worth $7,388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in shares of MoonLake Immunotherapeutics by 3.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company’s stock worth $460,000 after purchasing an additional 320 shares in the last quarter. Deutsche Bank AG boosted its holdings in MoonLake Immunotherapeutics by 59.8% in the 4th quarter. Deutsche Bank AG now owns 903 shares of the company’s stock worth $49,000 after buying an additional 338 shares during the period. Geode Capital Management LLC grew its stake in MoonLake Immunotherapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 58,950 shares of the company’s stock valued at $3,192,000 after buying an additional 540 shares in the last quarter. DnB Asset Management AS raised its holdings in MoonLake Immunotherapeutics by 11.3% during the 4th quarter. DnB Asset Management AS now owns 8,356 shares of the company’s stock valued at $452,000 after acquiring an additional 847 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in shares of MoonLake Immunotherapeutics by 18.4% during the fourth quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company’s stock worth $354,000 after acquiring an additional 1,013 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors.

MoonLake Immunotherapeutics Price Performance

Shares of 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 company has a market capitalization of $2.46 billion, a P/E ratio of -29.82 and a beta of 1.31. The firm’s 50 day simple moving average is $38.47 and its 200 day simple moving average is $45.10.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data 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 analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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