Wellington Management Group LLP Sells 92,960 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Wellington Management Group LLP trimmed its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 48.4% during the 4th quarter, HoldingsChannel reports. The firm owned 99,098 shares of the company’s stock after selling 92,960 shares during the quarter. Wellington Management Group LLP’s holdings in MoonLake Immunotherapeutics were worth $5,366,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Clearbridge Investments LLC increased its stake in MoonLake Immunotherapeutics by 26.6% in the 4th quarter. Clearbridge Investments LLC now owns 43,380 shares of the company’s stock worth $2,349,000 after acquiring an additional 9,106 shares during the last quarter. DnB Asset Management AS increased its position in MoonLake Immunotherapeutics by 11.3% in the fourth quarter. DnB Asset Management AS now owns 8,356 shares of the company’s stock worth $452,000 after purchasing an additional 847 shares during the last quarter. BIT Capital GmbH purchased a new stake in MoonLake Immunotherapeutics during the fourth quarter valued at $1,124,000. LPL Financial LLC lifted its position in MoonLake Immunotherapeutics by 19.5% during the fourth quarter. LPL Financial LLC now owns 8,146 shares of the company’s stock valued at $441,000 after purchasing an additional 1,332 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of MoonLake Immunotherapeutics in the 4th quarter worth $244,000. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Stock Down 5.6 %

MLTX opened at $33.97 on Friday. The business has a fifty day moving average of $40.03 and a 200 day moving average of $46.58. The stock has a market cap of $2.17 billion, a P/E ratio of -26.33 and a beta of 1.32. MoonLake Immunotherapeutics has a 52-week low of $31.42 and a 52-week high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). Equities analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MLTX. Needham & Company LLC increased their price target 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. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Royal Bank of Canada started coverage on MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an “outperform” rating and a $67.00 target price on the stock. Finally, The Goldman Sachs Group lowered their price target on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus 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.