Mineralys Therapeutics, Inc. $MLYS Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 11.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,352,880 shares of the company’s stock after buying an additional 333,881 shares during the period. Vanguard Group Inc.’s holdings in Mineralys Therapeutics were worth $121,676,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Smartleaf Asset Management LLC grew its holdings in shares of Mineralys Therapeutics by 198.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after acquiring an additional 676 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Mineralys Therapeutics by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after acquiring an additional 702 shares during the last quarter. Velan Capital Investment Management LP grew its holdings in shares of Mineralys Therapeutics by 0.6% in the 3rd quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock worth $6,659,000 after acquiring an additional 1,000 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Mineralys Therapeutics by 11.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,896 shares of the company’s stock worth $468,000 after acquiring an additional 1,275 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Mineralys Therapeutics by 50.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,846 shares of the company’s stock worth $140,000 after acquiring an additional 1,283 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Mineralys Therapeutics Trading Down 1.6%

Shares of Mineralys Therapeutics stock opened at $29.26 on Wednesday. The stock has a 50-day moving average price of $27.17 and a 200 day moving average price of $32.85. The company has a market cap of $2.41 billion, a P/E ratio of -14.27 and a beta of 0.49. Mineralys Therapeutics, Inc. has a 1 year low of $12.59 and a 1 year high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.04. On average, equities analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jon Congleton sold 15,730 shares of the stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $26.83, for a total value of $422,035.90. Following the completion of the sale, the chief executive officer directly owned 689,321 shares of the company’s stock, valued at approximately $18,494,482.43. This represents a 2.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of Mineralys Therapeutics stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $25.00, for a total value of $75,000.00. Following the sale, the director directly owned 6,200 shares of the company’s stock, valued at approximately $155,000. The trade was a 32.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 160,120 shares of company stock valued at $4,270,828 in the last 90 days. Insiders own 18.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Jefferies Financial Group restated a “hold” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a report on Friday, March 13th. TD Cowen assumed coverage on Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating on the stock. Wall Street Zen cut Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Bank of America lifted their target price on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Finally, HC Wainwright set a $56.00 target price on Mineralys Therapeutics and gave the stock a “buy” rating in a report on Tuesday, March 10th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mineralys Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.14.

Mineralys Therapeutics Profile

Mineralys Therapeutics, Inc, a clinical-stage biopharmaceutical company that develops therapies for the treatment of hypertension and chronic kidney diseases. It clinical-stage product candidate is lorundrostat, a proprietary, orally administered, highly selective aldosterone synthase inhibitor for the treatment of cardiorenal conditions affected by abnormally elevated aldosterone. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.