Federated Hermes Inc. Sells 23,724 Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX)

Federated Hermes Inc. lessened its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,060,526 shares of the company’s stock after selling 23,724 shares during the quarter. Federated Hermes Inc.’s holdings in MoonLake Immunotherapeutics were worth $64,045,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Walleye Capital LLC acquired a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at $3,872,000. Soros Fund Management LLC bought a new stake in MoonLake Immunotherapeutics during the 3rd quarter worth about $3,192,000. Swiss National Bank bought a new position in shares of MoonLake Immunotherapeutics in the third quarter worth about $2,269,000. CenterBook Partners LP bought a new stake in shares of MoonLake Immunotherapeutics during the third quarter valued at approximately $651,000. Finally, DekaBank Deutsche Girozentrale bought a new position in MoonLake Immunotherapeutics in the 3rd quarter valued at $351,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MLTX. Wolfe Research started coverage on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They set an “outperform” rating and a $77.00 price target for the company. The Goldman Sachs Group began coverage on MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $62.00 price objective for the company. Wedbush restated an “outperform” rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a report on Wednesday, March 13th. William Blair reaffirmed an “outperform” rating and issued a $92.00 price target on shares of MoonLake Immunotherapeutics in a research note on Monday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, MoonLake Immunotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.46.

Insider Activity

In related news, CEO Da Silva Jorge Santos sold 62,810 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total transaction of $3,454,550.00. Following the completion of the transaction, the chief executive officer now owns 3,043,619 shares in the company, valued at $167,399,045. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Kristian Reich sold 10,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $60.15, for a total value of $601,500.00. Following the completion of the sale, the insider now owns 110,071 shares of the company’s stock, valued at approximately $6,620,770.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Da Silva Jorge Santos sold 62,810 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $55.00, for a total transaction of $3,454,550.00. Following the transaction, the chief executive officer now owns 3,043,619 shares in the company, valued at $167,399,045. The disclosure for this sale can be found here. Insiders have sold 166,981 shares of company stock worth $9,490,674 over the last ninety days. Insiders own 15.27% of the company’s stock.

MoonLake Immunotherapeutics Stock Down 2.9 %

MLTX opened at $42.25 on Friday. MoonLake Immunotherapeutics has a 12 month low of $19.80 and a 12 month high of $64.98. The firm’s fifty day simple moving average is $50.26 and its 200 day simple moving average is $52.27.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.11. On average, research analysts predict that MoonLake Immunotherapeutics will post -1.11 earnings per share for the current year.

MoonLake Immunotherapeutics Company 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.