Avoro Capital Advisors LLC Cuts Stock Position in MoonLake Immunotherapeutics $MLTX

Avoro Capital Advisors LLC lessened its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 51.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,000,000 shares of the company’s stock after selling 2,150,000 shares during the period. MoonLake Immunotherapeutics makes up about 0.2% of Avoro Capital Advisors LLC’s portfolio, making the stock its 27th biggest holding. Avoro Capital Advisors LLC owned about 3.11% of MoonLake Immunotherapeutics worth $14,340,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC purchased a new position in shares of MoonLake Immunotherapeutics in the 2nd quarter valued at approximately $74,000. Covestor Ltd acquired a new position in MoonLake Immunotherapeutics during the 3rd quarter valued at approximately $46,000. BNP Paribas Financial Markets raised its holdings in shares of MoonLake Immunotherapeutics by 18.9% in the third quarter. BNP Paribas Financial Markets now owns 7,296 shares of the company’s stock worth $52,000 after buying an additional 1,158 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth $82,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of MoonLake Immunotherapeutics during the second quarter valued at $593,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on MLTX shares. Oppenheimer lifted their price target on MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Royal Bank Of Canada lifted their price objective on shares of MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. BTIG Research raised their target price on shares of MoonLake Immunotherapeutics from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Zacks Research upgraded shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, The Goldman Sachs Group lowered shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and upped their price target for the company from $8.00 to $10.00 in a report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics presently has a consensus rating of “Hold” and an average price target of $27.85.

MoonLake Immunotherapeutics Stock Up 0.6%

Shares of NASDAQ:MLTX opened at $17.13 on Friday. The business has a 50-day moving average price of $16.52 and a 200 day moving average price of $20.73. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -4.87 and a beta of 1.20. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.24.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.92) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.92). During the same quarter in the previous year, the firm posted ($0.72) EPS. Sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

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.