Alliancebernstein L.P. Buys 24,464 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Alliancebernstein L.P. boosted its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 2.5% in 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 purchasing an additional 24,464 shares during the quarter. Alliancebernstein L.P. owned approximately 1.60% of MoonLake Immunotherapeutics worth $55,374,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MLTX. PNC Financial Services Group Inc. raised its stake in shares of MoonLake Immunotherapeutics by 3.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company’s stock worth $460,000 after acquiring an additional 320 shares in the last quarter. DnB Asset Management AS increased its position in shares of MoonLake Immunotherapeutics by 11.3% during the fourth quarter. DnB Asset Management AS now owns 8,356 shares of the company’s stock worth $452,000 after purchasing an additional 847 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of MoonLake Immunotherapeutics by 18.4% during the 4th quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company’s stock valued at $354,000 after purchasing an additional 1,013 shares during the last quarter. Sei Investments Co. boosted its position in shares of MoonLake Immunotherapeutics by 5.8% in the 4th quarter. Sei Investments Co. now owns 22,025 shares of the company’s stock worth $1,193,000 after purchasing an additional 1,202 shares in the last quarter. Finally, LPL Financial LLC grew its stake in MoonLake Immunotherapeutics by 19.5% during the 4th quarter. LPL Financial LLC now owns 8,146 shares of the company’s stock worth $441,000 after buying an additional 1,332 shares during the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Trading Down 2.2 %

Shares of NASDAQ MLTX opened at $37.21 on Friday. The company has a 50 day simple moving average of $41.36 and a two-hundred day simple moving average of $47.38. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -28.84 and a beta of 1.31. MoonLake Immunotherapeutics has a 12 month low of $35.39 and a 12 month high of $58.26.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on MLTX. Needham & Company LLC raised their price target on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group decreased their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an “outperform” rating and a $67.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $80.50.

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.