Balyasny Asset Management L.P. Buys Shares of 17,786 Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MLYS. BNP Paribas Financial Markets bought a new stake in Mineralys Therapeutics in the fourth quarter worth approximately $48,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of 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 buying an additional 989 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter worth $145,000. EntryPoint Capital LLC acquired a new position in Mineralys Therapeutics during the 4th quarter valued at $154,000. Finally, AlphaQuest LLC raised its stake in Mineralys Therapeutics by 2,637.8% during the 4th quarter. AlphaQuest LLC now owns 15,222 shares of the company's stock valued at $187,000 after purchasing an additional 14,666 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 11,366 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $15.29, for a total value of $173,786.14. Following the sale, the insider now owns 106,669 shares of the company's stock, valued at approximately $1,630,969.01. This represents a 9.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the company's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $12.06, for a total transaction 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 approximately $2,597,000.40. The trade was a 4.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,579 shares of company stock valued at $1,534,353. 25.56% of the stock is owned by insiders.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock traded up $0.56 during mid-day trading on Wednesday, reaching $16.66. The company's stock had a trading volume of 708,003 shares, compared to its average volume of 480,548. Mineralys Therapeutics, Inc. has a 1-year low of $8.24 and a 1-year high of $18.38. The company has a market cap of $1.09 billion, a P/E ratio of -4.58 and a beta of -0.30. The firm's 50-day moving average is $14.39 and its two-hundred day moving average is $12.50.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.02) by $0.23. Sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MLYS shares. HC Wainwright reiterated a "buy" rating and set a $42.00 target price on shares of Mineralys Therapeutics in a research note on Tuesday, May 13th. Guggenheim set a $48.00 target price on shares of Mineralys Therapeutics and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, The Goldman Sachs Group dropped their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, February 13th.

About Mineralys Therapeutics

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.