American Century Companies Inc. Has $13.08 Million Position in Mineralys Therapeutics, Inc. $MLYS

Key Points

• American Century Companies Inc. reduced its stake in Mineralys Therapeutics by 2.9%, owning approximately 823,616 shares valued at about $13.08 million as of the recent SEC filing.
• Insider trading activity has been notable, with CFO Adam Scott Levy selling nearly 60,000 shares for approximately $884,493, resulting in a significant decrease in his ownership.
• Mineralys Therapeutics received mixed ratings from analysts, with price targets ranging from $15.00 to $48.00 and a consensus rating of "Moderate Buy" based on recent reports.

American Century Companies Inc. lowered its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 823,616 shares of the company's stock after selling 25,014 shares during the quarter. American Century Companies Inc. owned 1.27% of Mineralys Therapeutics worth $13,079,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in MLYS. Dimensional Fund Advisors LP acquired a new stake in Mineralys Therapeutics during the 4th quarter valued at $202,000. GAMMA Investing LLC lifted its holdings in shares of Mineralys Therapeutics by 9,602.2% during the 1st quarter. GAMMA Investing LLC now owns 8,829 shares of the company's stock worth $140,000 after acquiring an additional 8,738 shares during the period. BNP Paribas Financial Markets purchased a new position in Mineralys Therapeutics during the fourth quarter worth approximately $48,000. ProShare Advisors LLC purchased a new position in shares of Mineralys Therapeutics in the 4th quarter worth about $128,000. Finally, Bank of America Corp DE lifted its position in Mineralys Therapeutics by 12.0% during the fourth quarter. Bank of America Corp DE now owns 107,703 shares of the company's stock valued at $1,326,000 after buying an additional 11,549 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Mineralys Therapeutics news, CEO Jon Congleton sold 15,884 shares of the company's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $14.51, for a total value of $230,476.84. Following the sale, the chief executive officer directly owned 846,405 shares in the company, valued at $12,281,336.55. This represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Adam Scott Levy sold 59,925 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $14.76, for a total transaction of $884,493.00. Following the completion of the sale, the chief financial officer owned 132,934 shares in the company, valued at $1,962,105.84. This represents a 31.07% decrease in their position. 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. Corporate insiders own 25.56% of the company's stock.

Mineralys Therapeutics Price Performance

NASDAQ:MLYS traded up $0.26 during trading hours on Friday, reaching $15.48. The company's stock had a trading volume of 942,523 shares, compared to its average volume of 883,976. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -4.35 and a beta of -0.29. The business's 50-day moving average is $14.12 and its 200-day moving average is $13.83. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $18.38.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.12. On average, sell-side analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on MLYS. Wall Street Zen raised shares of Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Guggenheim set a $48.00 price target on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a research report on Wednesday, May 14th. HC Wainwright reiterated a "buy" rating and issued a $42.00 target price on shares of Mineralys Therapeutics in a research report on Wednesday, August 13th. Bank of America lifted 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. Finally, Jefferies Financial Group began coverage on Mineralys Therapeutics in a report on Tuesday, June 10th. They set a "hold" rating and a $15.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.40.

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.