Alliancebernstein L.P. Boosts Stock Holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Alliancebernstein L.P. increased its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,022,604 shares of the company’s stock after buying an additional 24,464 shares during the period. Alliancebernstein L.P.’s holdings in MoonLake Immunotherapeutics were worth $55,374,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $244,000. Barclays PLC raised its holdings in MoonLake Immunotherapeutics by 1,269.2% in the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after purchasing an additional 5,229 shares during the period. Teacher Retirement System of Texas boosted its position in 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 purchasing an additional 1,013 shares in the last quarter. LPL Financial LLC boosted its position in MoonLake Immunotherapeutics by 19.5% during the fourth quarter. LPL Financial LLC now owns 8,146 shares of the company’s stock worth $441,000 after purchasing an additional 1,332 shares in the last quarter. Finally, DnB Asset Management AS grew its holdings in MoonLake Immunotherapeutics by 11.3% in the fourth quarter. DnB Asset Management AS now owns 8,356 shares of the company’s stock valued at $452,000 after purchasing an additional 847 shares during the period. Institutional investors and hedge funds own 93.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MLTX shares. The Goldman Sachs Group decreased their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada started coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They set an “outperform” rating and a $67.00 price objective on the stock. Needham & Company LLC boosted their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $80.50.

MoonLake Immunotherapeutics Trading Down 2.2 %

MLTX opened at $37.21 on Friday. MoonLake Immunotherapeutics has a twelve month low of $35.39 and a twelve month high of $58.26. The firm has a market capitalization of $2.38 billion, a PE ratio of -28.84 and a beta of 1.31. The firm’s 50-day moving average price is $41.36 and its 200 day moving average price is $47.38.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its 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). As a group, analysts predict that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

MoonLake Immunotherapeutics Company 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.