Erste Asset Management GmbH Invests $660,000 in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Erste Asset Management GmbH invested $660,000 in Mineralys Therapeutics by acquiring 45,000 shares, representing about 0.07% of the company's stock.
• Multiple large investors, including SR One Capital Management and Millennium Management, have significantly increased their stakes in Mineralys Therapeutics, highlighting growing institutional interest in the company.
• Analysts remain optimistic about Mineralys Therapeutics, with several firms issuing "buy" ratings and target prices ranging from $15.00 to $48.00 for the stock.

Erste Asset Management GmbH acquired a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,000 shares of the company's stock, valued at approximately $660,000. Erste Asset Management GmbH owned approximately 0.07% of Mineralys Therapeutics as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MLYS. SR One Capital Management LP boosted its holdings in Mineralys Therapeutics by 55.1% during the first quarter. SR One Capital Management LP now owns 3,127,933 shares of the company's stock worth $49,672,000 after purchasing an additional 1,111,111 shares during the last quarter. Millennium Management LLC boosted its holdings in Mineralys Therapeutics by 1,015.8% during the fourth quarter. Millennium Management LLC now owns 1,101,674 shares of the company's stock worth $13,562,000 after purchasing an additional 1,002,941 shares during the last quarter. Jennison Associates LLC boosted its holdings in Mineralys Therapeutics by 82.9% during the first quarter. Jennison Associates LLC now owns 1,979,033 shares of the company's stock worth $31,427,000 after purchasing an additional 897,027 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Mineralys Therapeutics by 42.1% during the first quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company's stock worth $32,324,000 after purchasing an additional 603,464 shares during the last quarter. Finally, Integral Health Asset Management LLC boosted its holdings in Mineralys Therapeutics by 145.8% during the fourth quarter. Integral Health Asset Management LLC now owns 875,000 shares of the company's stock worth $10,771,000 after purchasing an additional 519,000 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Insider Transactions at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 59,925 shares of the firm's stock in a transaction dated 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 approximately $1,962,105.84. This trade represents a 31.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jon Congleton sold 15,884 shares of the firm's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $14.51, for a total transaction of $230,476.84. Following the sale, the chief executive officer owned 846,405 shares of the company's stock, valued at approximately $12,281,336.55. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,051 shares of company stock worth $1,776,262. 25.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MLYS shares. HC Wainwright restated a "buy" rating and set a $42.00 target price on shares of Mineralys Therapeutics in a report on Wednesday, August 13th. Guggenheim set a $48.00 price target on shares of Mineralys Therapeutics and gave the company a "buy" rating in a research note on Wednesday, May 14th. Wall Street Zen upgraded shares of Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Jefferies Financial Group started coverage on shares of Mineralys Therapeutics in a research note on Tuesday, June 10th. They issued a "hold" rating and a $15.00 price target for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $32.25.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS opened at $14.89 on Friday. The firm has a 50-day moving average of $14.00 and a 200-day moving average of $13.69. The stock has a market cap of $987.06 million, a PE ratio of -4.18 and a beta of -0.29. Mineralys Therapeutics, Inc. has a 52-week low of $8.24 and a 52-week high of $18.38.

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

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.

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