Rice Hall James & Associates LLC Makes New Investment in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Rice Hall James & Associates LLC purchased a new stake in MoonLake Immunotherapeutics (NASDAQ:MLTX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 75,469 shares of the company’s stock, valued at approximately $3,805,000. Rice Hall James & Associates LLC owned approximately 0.12% of MoonLake Immunotherapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE acquired a new position in MoonLake Immunotherapeutics in the 3rd quarter valued at about $44,000. Congress Asset Management Co. purchased a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth about $3,360,000. Handelsbanken Fonder AB grew its holdings in shares of MoonLake Immunotherapeutics by 26.2% during the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock worth $655,000 after buying an additional 2,700 shares in the last quarter. Quarry LP raised its position in shares of MoonLake Immunotherapeutics by 172.7% in the second quarter. Quarry LP now owns 3,000 shares of the company’s stock valued at $132,000 after buying an additional 1,900 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of MoonLake Immunotherapeutics by 37.9% during the second quarter. The Manufacturers Life Insurance Company now owns 114,234 shares of the company’s stock valued at $5,023,000 after buying an additional 31,401 shares during the period. Institutional investors and hedge funds own 93.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Simon Sturge sold 171,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $53.72, for a total transaction of $9,186,120.00. Following the transaction, the director now directly owns 171,980 shares of the company’s stock, valued at approximately $9,238,765.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MLTX. Wolfe Research cut shares of MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 26th. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.45.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX opened at $46.76 on Friday. MoonLake Immunotherapeutics has a 12 month low of $35.11 and a 12 month high of $64.98. The company has a market capitalization of $2.99 billion, a P/E ratio of -51.38 and a beta of 1.26. The company’s 50 day simple moving average is $49.17 and its 200 day simple moving average is $45.13.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same quarter in the prior year, the business posted ($0.23) earnings per share. On average, analysts anticipate that MoonLake Immunotherapeutics will post -1.54 earnings per share 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.