Harbor Capital Advisors Inc. Grows Holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Harbor Capital Advisors Inc. increased its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 100.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 77,468 shares of the company’s stock after purchasing an additional 38,779 shares during the period. Harbor Capital Advisors Inc.’s holdings in MoonLake Immunotherapeutics were worth $3,906,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC boosted its position in shares of MoonLake Immunotherapeutics by 7.4% during the second quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock worth $121,797,000 after buying an additional 190,000 shares during the period. Federated Hermes Inc. boosted its holdings in MoonLake Immunotherapeutics by 2.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock valued at $49,617,000 after acquiring an additional 28,672 shares during the period. Marshall Wace LLP grew its position in MoonLake Immunotherapeutics by 115.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after acquiring an additional 587,684 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in MoonLake Immunotherapeutics by 48.8% during the first quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock worth $45,753,000 after purchasing an additional 298,823 shares during the period. Finally, Logos Global Management LP acquired a new stake in shares of MoonLake Immunotherapeutics during the second quarter worth about $32,978,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

Insider Buying and Selling

In other MoonLake Immunotherapeutics news, Director Simon Sturge sold 171,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $53.72, for a total value of $9,186,120.00. Following the completion of the sale, the director now owns 171,980 shares in the company, valued at approximately $9,238,765.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.02% of the stock is currently owned by company insiders.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ MLTX opened at $46.76 on Monday. The business has a 50-day moving average of $49.11 and a two-hundred day moving average of $45.17. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -51.38 and a beta of 1.28. MoonLake Immunotherapeutics has a 1 year low of $35.11 and a 1 year high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.11). During the same quarter in the previous year, the business earned ($0.23) earnings per share. As a group, equities research analysts expect that MoonLake Immunotherapeutics will post -1.54 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.