Canada Pension Plan Investment Board Invests $4.44 Million in Mineralys Therapeutics, Inc. $MLYS

Key Points

• The Canada Pension Plan Investment Board acquired 279,500 shares of Mineralys Therapeutics, Inc. valued at approximately $4.43 million, now owning about 0.43% of the company.
• Mineralys Therapeutics’ stock opened at $29.25, with a market capitalization of $1.94 billion and a 50-day moving average price of $14.78.
• Recent analyst reports show an upgrade in ratings, with Jefferies Financial Group raising the price target to $26.00, and Bank of America increasing theirs to $43.00, indicating a generally favorable outlook for the stock.

Canada Pension Plan Investment Board purchased a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 279,500 shares of the company's stock, valued at approximately $4,438,000. Canada Pension Plan Investment Board owned approximately 0.43% of Mineralys Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Mineralys Therapeutics by 32.8% during the first quarter. Wellington Management Group LLP now owns 121,557 shares of the company's stock worth $1,930,000 after purchasing an additional 30,028 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Mineralys Therapeutics during the fourth quarter worth $202,000. GAMMA Investing LLC boosted its position in shares of Mineralys Therapeutics by 9,602.2% during the first quarter. GAMMA Investing LLC now owns 8,829 shares of the company's stock worth $140,000 after purchasing an additional 8,738 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Mineralys Therapeutics during the fourth quarter worth $48,000. Finally, ProShare Advisors LLC bought a new position in shares of Mineralys Therapeutics during the fourth quarter worth $128,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MLYS has been the topic of a number of recent analyst reports. HC Wainwright reissued a "buy" rating and set a $42.00 price target on shares of Mineralys Therapeutics in a research report on Wednesday, August 13th. Jefferies Financial Group raised their price objective on shares of Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a "hold" rating in a report on Wednesday. Wall Street Zen upgraded shares of Mineralys Therapeutics from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Guggenheim set a $48.00 price objective on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a report on Wednesday, May 14th. Finally, Bank of America raised their price objective on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.60.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 59,925 shares of Mineralys Therapeutics stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $14.76, for a total value of $884,493.00. Following the sale, the chief financial officer directly owned 132,934 shares in the company, valued at approximately $1,962,105.84. The trade was a 31.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Malcom Rodman sold 11,365 shares of Mineralys Therapeutics stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $12.93, for a total transaction of $146,949.45. Following the completion of the sale, the insider owned 92,891 shares in the company, valued at $1,201,080.63. The trade was a 10.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,051 shares of company stock worth $1,776,262. Insiders own 25.56% of the company's stock.

Mineralys Therapeutics Stock Up 5.1%

Shares of NASDAQ:MLYS traded up $1.68 during midday trading on Friday, reaching $34.80. 3,741,957 shares of the company were exchanged, compared to its average volume of 2,228,714. Mineralys Therapeutics, Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $35.09. The stock has a fifty day simple moving average of $15.59 and a two-hundred day simple moving average of $14.53. The firm has a market cap of $2.31 billion, a PE ratio of -9.78 and a beta of -0.29.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.12. As a group, analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Mineralys Therapeutics Company 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.