BNP Paribas Financial Markets Takes $413,000 Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

BNP Paribas Financial Markets purchased a new stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,633 shares of the company’s stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLTX. Congress Asset Management Co. boosted its position in MoonLake Immunotherapeutics by 9.5% during the fourth quarter. Congress Asset Management Co. now owns 72,993 shares of the company’s stock worth $3,953,000 after purchasing an additional 6,352 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth $244,000. Rice Hall James & Associates LLC grew its stake in shares of MoonLake Immunotherapeutics by 47.3% in the fourth quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company’s stock worth $6,018,000 after acquiring an additional 35,664 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of MoonLake Immunotherapeutics by 18.4% during the fourth quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company’s stock valued at $354,000 after buying an additional 1,013 shares during the last quarter. Finally, Mariner LLC acquired a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter worth approximately $272,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Price Performance

MLTX opened at $38.93 on Monday. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -30.18 and a beta of 1.31. MoonLake Immunotherapeutics has a fifty-two week low of $31.42 and a fifty-two week high of $58.26. The company’s 50 day moving average price is $38.43 and its two-hundred day moving average price is $44.37.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.13. During the same quarter in the prior year, the firm posted ($0.22) EPS. As a group, equities research analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MLTX shares. Wedbush reaffirmed an “outperform” rating and set a $80.00 price objective (up from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Wolfe Research raised MoonLake Immunotherapeutics from a “peer perform” rating to an “outperform” rating and set a $61.00 price target on the stock in a research note on Monday, May 19th. Royal Bank of Canada initiated 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 for the company. The Goldman Sachs Group reduced their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $78.71.

MoonLake Immunotherapeutics 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.