Bellevue Group AG Invests $221,000 in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Bellevue Group AG bought a new stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 4,400 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLTX. Quarry LP acquired a new position in shares of MoonLake Immunotherapeutics during the fourth quarter worth $51,000. Stratos Wealth Partners LTD. acquired a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter valued at about $202,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $217,000. PNC Financial Services Group Inc. boosted its holdings in MoonLake Immunotherapeutics by 50.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock valued at $371,000 after purchasing an additional 2,067 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in MoonLake Immunotherapeutics during the 1st quarter valued at approximately $726,000. 93.85% of the stock is owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Stock Down 3.7 %

MoonLake Immunotherapeutics stock traded down $1.67 during mid-day trading on Monday, hitting $43.10. 65,027 shares of the company’s stock traded hands, compared to its average volume of 407,350. MoonLake Immunotherapeutics has a one year low of $35.11 and a one year high of $64.98. The company has a market cap of $2.75 billion, a PE ratio of -58.00 and a beta of 1.25. The firm has a 50 day moving average price of $42.47 and a 200 day moving average price of $47.33.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Sunday, May 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). On average, analysts expect that MoonLake Immunotherapeutics will post -1.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MLTX. The Goldman Sachs Group began coverage on MoonLake Immunotherapeutics in a research report on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, June 10th. Oppenheimer began coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They issued an “outperform” rating and a $104.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, July 1st. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $79.00.

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.