UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 96.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,814 shares of the company’s stock after acquiring an additional 17,580 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.06% of MoonLake Immunotherapeutics worth $1,806,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. US Bancorp DE bought a new position in shares of MoonLake Immunotherapeutics during the third quarter valued at about $44,000. Quarry LP increased its stake in MoonLake Immunotherapeutics by 172.7% in the 2nd quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $132,000 after buying an additional 1,900 shares during the last quarter. Handelsbanken Fonder AB increased its stake in MoonLake Immunotherapeutics by 26.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after buying an additional 2,700 shares during the last quarter. AlphaCentric Advisors LLC bought a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter worth approximately $706,000. Finally, GSA Capital Partners LLP boosted its stake in shares of MoonLake Immunotherapeutics by 1.9% in the 3rd quarter. GSA Capital Partners LLP now owns 22,127 shares of the company’s stock worth $1,116,000 after buying an additional 403 shares during the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Stock Down 4.5 %

NASDAQ MLTX opened at $51.34 on Monday. The firm has a market cap of $3.28 billion, a P/E ratio of -39.80 and a beta of 1.31. The company’s 50 day moving average is $50.48 and its 200-day moving average is $47.38. MoonLake Immunotherapeutics has a 12-month low of $37.55 and a 12-month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same quarter last year, the company earned ($0.18) EPS. Equities analysts expect that MoonLake Immunotherapeutics will post -1.74 EPS for the current year.

Insider Activity at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the transaction, the director now owns 171,980 shares in the company, valued at $9,238,765.60. This trade represents a 49.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MLTX has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price target on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, November 14th. Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a report on Monday, August 26th. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $73.00 price objective (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, MoonLake Immunotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $79.88.

About MoonLake Immunotherapeutics

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.