Sectoral Asset Management Inc. Decreases Stock Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Sectoral Asset Management Inc. cut its stake in MoonLake Immunotherapeutics (NASDAQ:MLTXFree Report) by 69.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,005 shares of the company’s stock after selling 67,960 shares during the period. Sectoral Asset Management Inc.’s holdings in MoonLake Immunotherapeutics were worth $1,812,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MLTX. Walleye Capital LLC purchased a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth about $3,872,000. Finepoint Capital LP lifted its holdings in MoonLake Immunotherapeutics by 170.1% during the 4th quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock worth $54,049,000 after buying an additional 563,584 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in MoonLake Immunotherapeutics by 56.4% during the 4th quarter. Westfield Capital Management Co. LP now owns 612,050 shares of the company’s stock worth $36,962,000 after buying an additional 220,771 shares during the last quarter. Affinity Asset Advisors LLC lifted its holdings in MoonLake Immunotherapeutics by 42.0% during the 4th quarter. Affinity Asset Advisors LLC now owns 70,988 shares of the company’s stock worth $4,287,000 after buying an additional 20,988 shares during the last quarter. Finally, Soros Fund Management LLC purchased a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth about $3,192,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Stock Performance

MLTX traded down $0.77 during trading on Friday, reaching $41.67. The company’s stock had a trading volume of 181,154 shares, compared to its average volume of 332,893. MoonLake Immunotherapeutics has a 52-week low of $24.31 and a 52-week high of $64.98. The company’s fifty day moving average price is $42.69 and its 200-day moving average price is $50.14. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -55.56 and a beta of 1.25.

MoonLake Immunotherapeutics (NASDAQ:MLTXGet Free Report) last announced its quarterly earnings results on Sunday, May 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Equities analysts predict that MoonLake Immunotherapeutics will post -1.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MLTX shares. Wedbush reiterated an “outperform” rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research report on Wednesday, March 13th. The Goldman Sachs Group started coverage on MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Friday, May 17th. Wolfe Research started coverage on MoonLake Immunotherapeutics in a research report on Thursday, February 15th. They set an “outperform” rating and a $77.00 target price on the stock. Finally, William Blair reiterated an “outperform” rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, MoonLake Immunotherapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $74.46.

View Our Latest Stock Report on MoonLake Immunotherapeutics

MoonLake Immunotherapeutics Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for MoonLake Immunotherapeutics (NASDAQ:MLTX)

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