Balyasny Asset Management L.P. Makes New Investment in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Balyasny Asset Management L.P. bought a new stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,786 shares of the company's stock, valued at approximately $219,000.

Other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its stake in Mineralys Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock worth $130,000 after purchasing an additional 989 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Mineralys Therapeutics by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company's stock worth $2,645,000 after purchasing an additional 1,307 shares during the period. Northern Trust Corp increased its stake in Mineralys Therapeutics by 0.7% in the fourth quarter. Northern Trust Corp now owns 246,113 shares of the company's stock worth $3,030,000 after purchasing an additional 1,688 shares during the period. Bank of New York Mellon Corp increased its stake in Mineralys Therapeutics by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company's stock worth $804,000 after purchasing an additional 1,711 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Mineralys Therapeutics by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 23,714 shares of the company's stock worth $292,000 after purchasing an additional 3,802 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Mineralys Therapeutics Trading Down 2.2%

Shares of Mineralys Therapeutics stock traded down $0.36 during trading on Friday, hitting $15.96. 927,902 shares of the stock traded hands, compared to its average volume of 487,363. The stock's fifty day simple moving average is $14.49 and its 200 day simple moving average is $12.55. Mineralys Therapeutics, Inc. has a 52-week low of $8.24 and a 52-week high of $18.38. The firm has a market cap of $1.04 billion, a P/E ratio of -4.38 and a beta of -0.30.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.23. As a group, equities analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Adam Scott Levy sold 10,757 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $12.06, for a total value of $129,729.42. Following the completion of the sale, the chief financial officer now directly owns 215,340 shares in the company, valued at $2,597,000.40. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jon Congleton sold 15,319 shares of the business's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $12.19, for a total value of $186,738.61. Following the completion of the sale, the chief executive officer now owns 862,289 shares of the company's stock, valued at $10,511,302.91. This trade represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,579 shares of company stock valued at $1,534,353. 25.56% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MLYS has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. HC Wainwright restated a "buy" rating and set a $42.00 price target on shares of Mineralys Therapeutics in a research note on Tuesday, May 13th. Wall Street Zen upgraded Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday. Finally, Guggenheim set a $48.00 price target on Mineralys Therapeutics and gave the company a "buy" rating in a research note on Wednesday, May 14th.

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.