Pictet Asset Management Holding SA Sells 10,219 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Pictet Asset Management Holding SA lessened its position in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 346,617 shares of the company’s stock after selling 10,219 shares during the period. Pictet Asset Management Holding SA owned about 0.54% of MoonLake Immunotherapeutics worth $18,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of MoonLake Immunotherapeutics by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company’s stock worth $460,000 after buying an additional 320 shares in the last quarter. Teacher Retirement System of Texas boosted its position in MoonLake Immunotherapeutics by 18.4% during the 4th quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company’s stock worth $354,000 after acquiring an additional 1,013 shares during the last quarter. Sei Investments Co. grew its stake in shares of MoonLake Immunotherapeutics by 5.8% during the 4th quarter. Sei Investments Co. now owns 22,025 shares of the company’s stock worth $1,193,000 after acquiring an additional 1,202 shares in the last quarter. HighVista Strategies LLC raised its holdings in shares of MoonLake Immunotherapeutics by 3.1% in the third quarter. HighVista Strategies LLC now owns 43,541 shares of the company’s stock valued at $2,195,000 after purchasing an additional 1,292 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in MoonLake Immunotherapeutics by 19.5% during the fourth quarter. LPL Financial LLC now owns 8,146 shares of the company’s stock worth $441,000 after purchasing an additional 1,332 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MLTX. The Goldman Sachs Group cut their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada assumed coverage on MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They set an “outperform” rating and a $67.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, Needham & Company LLC upped their price objective on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. One equities research 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 stock. According to MarketBeat, MoonLake Immunotherapeutics has an average rating of “Buy” and a consensus price target of $80.50.

MoonLake Immunotherapeutics Stock Down 7.0 %

MLTX opened at $36.35 on Wednesday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -28.18 and a beta of 1.31. MoonLake Immunotherapeutics has a 12-month low of $36.34 and a 12-month high of $58.26. The business has a 50 day moving average of $41.89 and a 200-day moving average of $47.60.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly 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). As a group, analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

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.