Goldman Sachs Group Inc. Boosts Stake in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Goldman Sachs Group Inc. increased its stake in Mineralys Therapeutics by 166.6% in the first quarter, now holding 298,395 shares valued at approximately $4.74 million.
• Mineralys Therapeutics saw its stock trading up 3.3%, with a current market capitalization of $2.48 billion and a price-to-earnings ratio of -10.51.
• Analysts have bullish sentiments on Mineralys, with target prices reaching as high as $50.00, reflecting a strong "buy" and "overweight" rating from multiple firms.

Goldman Sachs Group Inc. grew its position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 166.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 298,395 shares of the company's stock after purchasing an additional 186,480 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.46% of Mineralys Therapeutics worth $4,739,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of MLYS. Northern Trust Corp increased its position in shares of Mineralys Therapeutics by 0.7% during the 4th quarter. Northern Trust Corp now owns 246,113 shares of the company's stock valued at $3,030,000 after purchasing an additional 1,688 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Mineralys Therapeutics during the 4th quarter valued at about $48,000. Bank of America Corp DE increased its position in shares of Mineralys Therapeutics by 12.0% during the 4th quarter. Bank of America Corp DE now owns 107,703 shares of the company's stock valued at $1,326,000 after purchasing an additional 11,549 shares during the last quarter. Deutsche Bank AG increased its position in shares of Mineralys Therapeutics by 62.3% during the 4th quarter. Deutsche Bank AG now owns 26,732 shares of the company's stock valued at $329,000 after purchasing an additional 10,264 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Mineralys Therapeutics by 1,015.8% during the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company's stock valued at $13,562,000 after purchasing an additional 1,002,941 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MLYS shares. Bank of America raised their price target on Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. HC Wainwright restated a "buy" rating and set a $42.00 price target on shares of Mineralys Therapeutics in a research report on Monday, September 8th. Jefferies Financial Group raised their price target on Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a "hold" rating in a research report on Wednesday, September 3rd. Wall Street Zen upgraded Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Wells Fargo & Company raised their price target on Mineralys Therapeutics from $26.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Mineralys Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $43.50.

Insider Buying and Selling

In other news, Director Srinivas Akkaraju bought 588,235 shares of the stock in a transaction dated Thursday, September 4th. The stock was bought at an average price of $25.50 per share, for a total transaction of $14,999,992.50. Following the purchase, the director directly owned 588,235 shares in the company, valued at $14,999,992.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Malcom Rodman sold 11,367 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $36.00, for a total value of $409,212.00. Following the completion of the transaction, the insider owned 81,524 shares of the company's stock, valued at approximately $2,934,864. The trade was a 12.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,418 shares of company stock worth $2,185,474 over the last quarter. Company insiders own 25.56% of the company's stock.

Mineralys Therapeutics Trading Down 1.5%

NASDAQ MLYS traded down $0.60 on Friday, hitting $39.27. The company's stock had a trading volume of 2,477,435 shares, compared to its average volume of 2,696,109. The firm has a market cap of $2.60 billion, a P/E ratio of -11.03 and a beta of -0.29. The company's 50-day simple moving average is $20.30 and its 200 day simple moving average is $16.45. Mineralys Therapeutics, Inc. has a 52-week low of $8.24 and a 52-week high of $40.33.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.66) EPS for the quarter, beating analysts' consensus estimates of ($0.78) by $0.12. On average, research analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

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.