Congress Asset Management Co. Buys 6,352 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Congress Asset Management Co. increased its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,993 shares of the company’s stock after acquiring an additional 6,352 shares during the quarter. Congress Asset Management Co.’s holdings in MoonLake Immunotherapeutics were worth $3,953,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. US Bancorp DE bought a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter valued at about $44,000. Rice Hall James & Associates LLC bought a new position in MoonLake Immunotherapeutics during the third quarter valued at approximately $3,805,000. Harbor Capital Advisors Inc. grew its holdings in MoonLake Immunotherapeutics by 100.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company’s stock valued at $3,906,000 after buying an additional 38,779 shares in the last quarter. AlphaCentric Advisors LLC bought a new stake in MoonLake Immunotherapeutics in the 3rd quarter worth approximately $706,000. Finally, GSA Capital Partners LLP raised its holdings in shares of MoonLake Immunotherapeutics by 1.9% during the 3rd quarter. GSA Capital Partners LLP now owns 22,127 shares of the company’s stock worth $1,116,000 after acquiring an additional 403 shares in the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MLTX. Wedbush restated an “outperform” rating and issued a $73.00 price target (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. The Goldman Sachs Group upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $82.00 in a report on Friday, January 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $85.50.

MoonLake Immunotherapeutics Price Performance

MLTX stock opened at $43.21 on Tuesday. MoonLake Immunotherapeutics has a 12 month low of $37.55 and a 12 month high of $64.00. The firm’s 50-day moving average is $48.52 and its 200 day moving average is $49.10. The company has a market capitalization of $2.76 billion, a PE ratio of -33.50 and a beta of 1.28.

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.