Ameriprise Financial Inc. Increases Stock Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Ameriprise Financial Inc. lifted its holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 28.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 204,373 shares of the company’s stock after purchasing an additional 45,113 shares during the period. Ameriprise Financial Inc. owned about 0.32% of MoonLake Immunotherapeutics worth $11,065,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of MLTX. FMR LLC raised its stake in shares of MoonLake Immunotherapeutics by 28.1% during the 4th quarter. FMR LLC now owns 6,341,391 shares of the company’s stock worth $343,386,000 after acquiring an additional 1,391,167 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of MoonLake Immunotherapeutics by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock worth $181,059,000 after acquiring an additional 363,394 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of MoonLake Immunotherapeutics by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company’s stock worth $69,315,000 after acquiring an additional 149,724 shares in the last quarter. Marshall Wace LLP raised its stake in shares of MoonLake Immunotherapeutics by 7.9% during the 4th quarter. Marshall Wace LLP now owns 1,245,299 shares of the company’s stock worth $67,433,000 after acquiring an additional 90,914 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of MoonLake Immunotherapeutics by 2.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,022,604 shares of the company’s stock worth $55,374,000 after acquiring an additional 24,464 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Stock Down 0.1%

MLTX opened at $37.62 on Monday. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -29.16 and a beta of 1.31. MoonLake Immunotherapeutics has a 52-week low of $31.42 and a 52-week high of $58.26. The firm’s fifty day simple moving average is $38.40 and its two-hundred day simple moving average is $44.70.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.13. During the same quarter in the previous year, the company earned ($0.22) EPS. On average, research analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. The Goldman Sachs Group dropped their price objective 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. Wedbush reaffirmed an “outperform” rating and issued a $80.00 price objective (up from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.67.

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.