Kennedy Capital Management LLC Cuts Position in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Kennedy Capital Management LLC trimmed its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 24.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,713 shares of the company’s stock after selling 8,622 shares during the quarter. Kennedy Capital Management LLC’s holdings in MoonLake Immunotherapeutics were worth $1,342,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MLTX. Quarry LP purchased a new position in shares of MoonLake Immunotherapeutics in the 4th quarter worth about $51,000. Stratos Wealth Partners LTD. purchased a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at about $202,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at about $217,000. Bellevue Group AG purchased a new stake in shares of MoonLake Immunotherapeutics during the 1st quarter valued at about $221,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of MoonLake Immunotherapeutics by 50.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock valued at $371,000 after buying an additional 2,067 shares during the period. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on MLTX. Oppenheimer began coverage on MoonLake Immunotherapeutics in a report on Tuesday, June 25th. They set an “outperform” rating and a $104.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, July 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, June 10th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $79.00.

MoonLake Immunotherapeutics Stock Performance

Shares of MoonLake Immunotherapeutics stock opened at $41.65 on Thursday. The business has a fifty day simple moving average of $42.61 and a 200-day simple moving average of $47.11. MoonLake Immunotherapeutics has a fifty-two week low of $35.11 and a fifty-two week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings data on Sunday, May 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Sell-side analysts forecast that MoonLake Immunotherapeutics will post -1.21 EPS for the current year.

About MoonLake Immunotherapeutics

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.