Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Position Increased by Jennison Associates LLC

Jennison Associates LLC lifted its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 82.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,979,033 shares of the company's stock after purchasing an additional 897,027 shares during the quarter. Jennison Associates LLC owned about 3.05% of Mineralys Therapeutics worth $31,427,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Mineralys Therapeutics by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 1,432,042 shares of the company's stock valued at $17,628,000 after purchasing an additional 68,811 shares during the period. Millennium Management LLC increased its holdings in 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 period. Caligan Partners LP increased its holdings in Mineralys Therapeutics by 3.1% during the 4th quarter. Caligan Partners LP now owns 1,011,155 shares of the company's stock valued at $12,447,000 after purchasing an additional 30,000 shares during the period. Integral Health Asset Management LLC increased its holdings in Mineralys Therapeutics by 145.8% during the 4th quarter. Integral Health Asset Management LLC now owns 875,000 shares of the company's stock valued at $10,771,000 after purchasing an additional 519,000 shares during the period. Finally, ADAR1 Capital Management LLC increased its holdings in Mineralys Therapeutics by 15.4% during the 4th quarter. ADAR1 Capital Management LLC now owns 841,541 shares of the company's stock valued at $10,359,000 after purchasing an additional 112,140 shares during the period. Institutional investors own 84.46% of the company's stock.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,758 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $14.45, for a total value of $155,453.10. Following the completion of the sale, the chief financial officer owned 206,612 shares in the company, valued at approximately $2,985,543.40. This represents a 4.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon Congleton sold 15,884 shares of the business's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $14.51, for a total transaction of $230,476.84. Following the completion of the transaction, the chief executive officer owned 846,405 shares in the company, valued at $12,281,336.55. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,374 shares of company stock worth $725,546. 33.24% of the stock is owned by company insiders.

Mineralys Therapeutics Price Performance

Shares of MLYS stock traded up $0.04 during trading hours on Wednesday, hitting $13.38. The stock had a trading volume of 279,587 shares, compared to its average volume of 883,504. The stock's 50-day moving average price is $14.87 and its two-hundred day moving average price is $13.11. The stock has a market capitalization of $871.78 million, a price-to-earnings ratio of -3.59 and a beta of -0.30. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $18.38.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.79) earnings per share for the quarter, topping analysts' consensus estimates of ($1.02) by $0.23. As a group, equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. HC Wainwright restated a "buy" rating and issued a $42.00 price objective on shares of Mineralys Therapeutics in a report on Tuesday, June 17th. Guggenheim set a $48.00 price objective on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a report on Wednesday, May 14th. Jefferies Financial Group assumed coverage on shares of Mineralys Therapeutics in a report on Tuesday, June 10th. They issued a "hold" rating and a $15.00 price objective for the company. Finally, Wall Street Zen lowered shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Mineralys Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $32.25.

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.