BIT Capital GmbH Takes Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

BIT Capital GmbH purchased a new stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) during the 4th quarter, Holdings Channel reports. The fund purchased 20,748 shares of the company’s stock, valued at approximately $1,124,000.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in MoonLake Immunotherapeutics by 35.8% in the third quarter. FMR LLC now owns 4,950,224 shares of the company’s stock valued at $249,590,000 after buying an additional 1,306,215 shares in the last quarter. Fred Alger Management LLC lifted its stake in shares of MoonLake Immunotherapeutics by 1.1% in the 3rd quarter. Fred Alger Management LLC now owns 666,574 shares of the company’s stock valued at $33,609,000 after acquiring an additional 7,545 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of MoonLake Immunotherapeutics by 3.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 118,126 shares of the company’s stock valued at $5,956,000 after acquiring an additional 3,892 shares in the last quarter. Rice Hall James & Associates LLC grew its position in MoonLake Immunotherapeutics by 47.3% during the 4th 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. Finally, Parkman Healthcare Partners LLC increased its holdings in MoonLake Immunotherapeutics by 1.6% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 102,813 shares of the company’s stock worth $5,184,000 after purchasing an additional 1,589 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX opened at $38.39 on Thursday. The company’s 50 day moving average price is $42.29 and its 200-day moving average price is $47.87. MoonLake Immunotherapeutics has a 52-week low of $36.52 and a 52-week high of $58.26. The company has a market capitalization of $2.46 billion, a P/E ratio of -29.76 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released 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). Analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group cut their price target on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC boosted their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, Royal Bank of Canada initiated coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They set an “outperform” rating and a $67.00 price target on the stock. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $80.50.

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.