Federated Hermes Inc. Boosts Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Federated Hermes Inc. lifted its holdings in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,280,052 shares of the company’s stock after acquiring an additional 149,724 shares during the quarter. Federated Hermes Inc.’s holdings in MoonLake Immunotherapeutics were worth $69,315,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Finepoint Capital LP lifted its position in shares of MoonLake Immunotherapeutics by 15.2% in the 4th quarter. Finepoint Capital LP now owns 447,935 shares of the company’s stock worth $24,256,000 after purchasing an additional 59,100 shares during the period. State Street Corp raised its stake in MoonLake Immunotherapeutics by 96.2% in the third quarter. State Street Corp now owns 87,637 shares of the company’s stock worth $4,419,000 after buying an additional 42,980 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in 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 buying an additional 35,664 shares during the period. Alliancebernstein L.P. boosted its position in MoonLake Immunotherapeutics by 2.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,022,604 shares of the company’s stock valued at $55,374,000 after acquiring an additional 24,464 shares in the last quarter. Finally, BIT Capital GmbH purchased a new position in shares of MoonLake Immunotherapeutics during the 4th quarter worth approximately $1,124,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Price Performance

Shares of MoonLake Immunotherapeutics stock opened at $37.21 on Monday. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -28.84 and a beta of 1.32. MoonLake Immunotherapeutics has a 1 year low of $31.37 and a 1 year high of $58.26. The firm’s 50-day moving average is $41.36 and its 200 day moving average is $47.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.09). On average, equities analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Analyst Ratings Changes

MLTX has been the topic of several research reports. Royal Bank of Canada initiated coverage on MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an “outperform” rating and a $67.00 price target on the stock. Needham & Company LLC boosted their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group decreased their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MoonLake Immunotherapeutics currently has an average rating of “Buy” and an average price target of $80.50.

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.