MoonLake Immunotherapeutics $MLTX Shares Sold by Candriam S.C.A.

Candriam S.C.A. lowered its position in MoonLake Immunotherapeutics (NASDAQ:MLTX) by 29.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 544,955 shares of the company’s stock after selling 224,811 shares during the period. Candriam S.C.A. owned approximately 0.64% of MoonLake Immunotherapeutics worth $6,399,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Congress Asset Management Co. grew its holdings in MoonLake Immunotherapeutics by 24.1% in the third quarter. Congress Asset Management Co. now owns 223,883 shares of the company’s stock valued at $2,619,000 after purchasing an additional 43,435 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter worth about $2,173,000. Integrated Wealth Concepts LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the 2nd quarter worth about $39,000. Allworth Financial LP boosted its position in shares of MoonLake Immunotherapeutics by 156.2% in the 2nd quarter. Allworth Financial LP now owns 1,714 shares of the company’s stock worth $33,000 after buying an additional 1,045 shares in the last quarter. Finally, Arizona State Retirement System acquired a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at about $233,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MLTX. Chardan Capital began coverage on shares of MoonLake Immunotherapeutics in a report on Friday, November 6th. They set a “buy” rating and a $57.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Wednesday, September 16th. Weiss Ratings raised shares of MoonLake Immunotherapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, October 5th. Finally, Wall Street Zen lowered shares of MoonLake Immunotherapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, September 27th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.09.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX opened at $12.56 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 9.13 and a quick ratio of 9.13. MoonLake Immunotherapeutics has a fifty-two week low of $9.46 and a fifty-two week high of $23.29. The business has a fifty day moving average of $12.01 and a 200-day moving average of $16.29.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.10). Equities research analysts predict that MoonLake Immunotherapeutics will post -3.45 earnings per share for the current year.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is a Switzerland-based clinical-stage biopharmaceutical company focused on developing treatments for inflammatory skin and joint diseases. The company was established in 2021 and is headquartered in Zug. Its lead investigational medicine, sonelokimab, is a nanobody designed to inhibit the inflammatory proteins IL-17A and IL-17F. MoonLake is studying the drug as a potential treatment for conditions including hidradenitis suppurativa, psoriatic arthritis and axial spondyloarthritis.