5 Top Performing European Stocks So Far in 2023

2. MoonLake Immunotherapeutics (NASDAQ:MLTX)

YTD Gains as of March 23: 92%

MoonLake Immunotherapeutics (NASDAQ:MLTX) is a Swiss biotech company that is working to use Sonelokimab, a novel investigational Nanobody, for the treatment of inflammatory diseases. MoonLake Immunotherapeutics (NASDAQ:MLTX) has gained about 92% year to date through March 23. In February, Cantor Fitzgerald started covering MoonLake Immunotherapeutics (NASDAQ:MLTX) with an Overweight rating. The firm cited a whopping $1.5 billion potential for Sonelokimab.

As of the end of the fourth quarter of 2022, 12 hedge funds tracked by Insider Monkey had stakes in MoonLake Immunotherapeutics (NASDAQ:MLTX).