Bank of America Corp DE Takes Position in Mineralys Therapeutics, Inc. $MLYS

Bank of America Corp DE bought a new stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,505,547 shares of the company's stock, valued at approximately $40,620,000. Bank of America Corp DE owned approximately 1.70% of Mineralys Therapeutics at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MLYS. BlackRock Inc. acquired a new stake in Mineralys Therapeutics in the second quarter valued at approximately $158,832,000. Orbimed Advisors LLC increased its stake in Mineralys Therapeutics by 109.4% during the 1st quarter. Orbimed Advisors LLC now owns 2,052,900 shares of the company's stock worth $55,613,000 after buying an additional 1,072,500 shares during the period. Polar Capital Holdings Plc lifted its holdings in Mineralys Therapeutics by 32.3% in the 4th quarter. Polar Capital Holdings Plc now owns 1,401,141 shares of the company's stock worth $50,847,000 after buying an additional 342,365 shares in the last quarter. Jennison Associates LLC boosted its position in Mineralys Therapeutics by 0.6% in the 1st quarter. Jennison Associates LLC now owns 1,266,174 shares of the company's stock valued at $34,301,000 after buying an additional 7,521 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of Mineralys Therapeutics by 21.3% during the first quarter. Pictet Asset Management Holding SA now owns 1,034,438 shares of the company's stock valued at $28,023,000 after acquiring an additional 181,555 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mineralys Therapeutics news, Director Daphne Karydas sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $28.58, for a total value of $85,740.00. Following the completion of the sale, the director owned 6,200 shares in the company, valued at approximately $177,196. This trade represents a 32.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Rodman sold 2,170 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $27.09, for a total transaction of $58,785.30. Following the completion of the transaction, the insider owned 51,384 shares of the company's stock, valued at approximately $1,391,992.56. This represents a 4.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 201,340 shares of company stock valued at $5,260,691 in the last quarter. Company insiders own 18.94% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on MLYS. Zacks Research raised Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a report on Friday, September 11th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Wall Street Zen downgraded Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. HC Wainwright reissued a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $48.80.

Mineralys Therapeutics Price Performance

NASDAQ MLYS opened at $28.31 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -6.68 and a beta of 0.68. The company has a 50 day simple moving average of $27.14 and a 200-day simple moving average of $27.10. Mineralys Therapeutics, Inc. has a 52-week low of $22.30 and a 52-week high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($2.30). Equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current fiscal year.

Mineralys Therapeutics Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney-related diseases. The company's research is centered on conditions associated with excess aldosterone activity, including uncontrolled and resistant hypertension.

Mineralys' lead investigational product is lorundrostat, also known as MLS-101, an oral, highly selective aldosterone synthase inhibitor. The company is evaluating lorundrostat in clinical studies as a potential treatment for patients whose blood pressure remains inadequately controlled despite existing therapy.

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