Federated Hermes Inc. Trims Holdings in MoonLake Immunotherapeutics (NASDAQ:MLTX)

Federated Hermes Inc. lowered its stake in shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,060,526 shares of the company’s stock after selling 23,724 shares during the period. Federated Hermes Inc. owned approximately 1.70% of MoonLake Immunotherapeutics worth $64,045,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Osaic Holdings Inc. raised its holdings in shares of MoonLake Immunotherapeutics by 956.6% in the 2nd quarter. Osaic Holdings Inc. now owns 803 shares of the company’s stock valued at $41,000 after buying an additional 727 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of MoonLake Immunotherapeutics in the second quarter worth $47,000. Barclays PLC purchased a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth $189,000. Stratos Wealth Partners LTD. acquired a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter valued at $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in MoonLake Immunotherapeutics in the fourth quarter valued at $217,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wolfe Research initiated coverage on MoonLake Immunotherapeutics in a research note on Thursday, February 15th. They issued an “outperform” rating and a $77.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $66.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, April 9th. William Blair reiterated an “outperform” rating and issued a $92.00 price objective on shares of MoonLake Immunotherapeutics in a report on Monday, February 26th. Wedbush restated an “outperform” rating and set a $92.00 target price on shares of MoonLake Immunotherapeutics in a research note on Wednesday, March 13th. Finally, The Goldman Sachs Group initiated coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, April 2nd. They set a “neutral” rating and a $62.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics currently has an average rating of “Moderate Buy” and an average price target of $74.46.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX stock opened at $42.25 on Friday. The stock’s 50-day moving average price is $50.26 and its 200 day moving average price is $52.27. MoonLake Immunotherapeutics has a 52-week low of $19.80 and a 52-week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.11. As a group, equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.11 EPS for the current year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 62,810 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $55.00, for a total value of $3,454,550.00. Following the sale, the chief executive officer now owns 3,043,619 shares of the company’s stock, valued at $167,399,045. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MoonLake Immunotherapeutics news, insider Kristian Reich sold 29,431 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $55.00, for a total value of $1,618,705.00. Following the transaction, the insider now directly owns 70,071 shares in the company, valued at approximately $3,853,905. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Da Silva Jorge Santos sold 62,810 shares of MoonLake Immunotherapeutics stock in a transaction dated 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 sale, the chief executive officer now owns 3,043,619 shares of the company’s stock, valued at $167,399,045. The disclosure for this sale can be found here. Over the last three months, insiders sold 166,981 shares of company stock valued at $9,490,674. Corporate insiders own 15.27% of the company’s stock.

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.