Informed Momentum Co LLC Takes Position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Key Points

• Informed Momentum Co LLC invested approximately $2.61 million in Mineralys Therapeutics, acquiring 164,273 shares, which accounts for about 0.25% of the company's stock.
• Mineralys Therapeutics recently reported a quarterly EPS of ($0.66), surpassing the consensus estimate of ($0.78) by $0.12.
• The company has a consensus rating of "Hold" among analysts, with a price target averaging $32.25.

Informed Momentum Co LLC purchased a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 164,273 shares of the company's stock, valued at approximately $2,609,000. Informed Momentum Co LLC owned about 0.25% of Mineralys Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. increased its stake in shares of Mineralys Therapeutics by 297.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company's stock worth $25,000 after purchasing an additional 1,190 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Mineralys Therapeutics in the 4th quarter valued at about $48,000. ProShare Advisors LLC bought a new stake in Mineralys Therapeutics in the 4th quarter valued at about $128,000. CWM LLC lifted its holdings in shares of Mineralys Therapeutics by 59.3% during the 1st quarter. CWM LLC now owns 8,342 shares of the company's stock worth $132,000 after acquiring an additional 3,105 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Mineralys Therapeutics by 9,602.2% during the 1st quarter. GAMMA Investing LLC now owns 8,829 shares of the company's stock worth $140,000 after acquiring an additional 8,738 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Mineralys Therapeutics Stock Up 2.8%

Shares of MLYS stock traded up $0.39 during trading hours on Friday, hitting $14.52. 938,025 shares of the company's stock traded hands, compared to its average volume of 788,417. The stock's 50 day simple moving average is $14.05 and its 200 day simple moving average is $13.55. The stock has a market cap of $962.53 million, a PE ratio of -4.08 and a beta of -0.29. Mineralys Therapeutics, Inc. has a 12 month low of $8.24 and a 12 month high of $18.38.

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

Insider Activity

In related news, insider David Malcom Rodman sold 11,366 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $14.59, for a total transaction of $165,829.94. Following the transaction, the insider directly owned 97,907 shares of the company's stock, valued at $1,428,463.13. This trade represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the chief financial officer directly owned 132,934 shares in the company, valued at $1,962,105.84. The trade was a 31.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,051 shares of company stock worth $1,776,262 over the last three months. 25.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. HC Wainwright reiterated a "buy" rating and set a $42.00 price objective on shares of Mineralys Therapeutics in a research report on Wednesday. Wall Street Zen cut shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Guggenheim set a $48.00 price objective on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group assumed coverage on shares of Mineralys Therapeutics in a research report on Tuesday, June 10th. They set a "hold" rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $32.25.

Mineralys Therapeutics Company 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.