KLP Kapitalforvaltning AS Makes New $91,000 Investment in Mineralys Therapeutics, Inc. $MLYS

Key Points

• KLP Kapitalforvaltning AS made a new investment of approximately $91,000 in Mineralys Therapeutics, acquiring 6,700 shares during the second quarter.
• Several institutional investors have increased their stakes in Mineralys, with significant boosts from RA Capital Management (26.7%), Vanguard Group (42.1%), and Candriam S.C.A. (189.2%).
• Mineralys Therapeutics has received positive analyst ratings recently, with price targets raised to as high as $50.00 from firms like Wells Fargo & Company and Jefferies Financial Group.

KLP Kapitalforvaltning AS acquired a new position 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 Securities and Exchange Commission (SEC). The institutional investor acquired 6,700 shares of the company's stock, valued at approximately $91,000.

Several other institutional investors also recently added to or reduced their stakes in MLYS. RA Capital Management L.P. boosted its position in Mineralys Therapeutics by 26.7% during the first quarter. RA Capital Management L.P. now owns 6,147,280 shares of the company's stock worth $97,619,000 after purchasing an additional 1,296,296 shares during the period. SR One Capital Management LP raised its stake in Mineralys Therapeutics by 55.1% in the first quarter. SR One Capital Management LP now owns 3,127,933 shares of the company's stock valued at $49,672,000 after purchasing an additional 1,111,111 shares in the last quarter. Vanguard Group Inc. raised its stake in Mineralys Therapeutics by 42.1% in the first quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company's stock valued at $32,324,000 after purchasing an additional 603,464 shares in the last quarter. Jennison Associates LLC raised its stake in Mineralys Therapeutics by 82.9% in the first quarter. Jennison Associates LLC now owns 1,979,033 shares of the company's stock valued at $31,427,000 after purchasing an additional 897,027 shares in the last quarter. Finally, Candriam S.C.A. boosted its holdings in Mineralys Therapeutics by 189.2% in the first quarter. Candriam S.C.A. now owns 882,833 shares of the company's stock valued at $14,019,000 after acquiring an additional 577,561 shares in the last quarter. Institutional investors own 84.46% of the company's stock.

Analysts Set New Price Targets

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

Mineralys Therapeutics Price Performance

Shares of MLYS opened at $43.37 on Wednesday. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -12.18 and a beta of 0.40. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $44.80. The business's 50 day simple moving average is $31.98 and its 200-day simple moving average is $20.44.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.12. On average, sell-side analysts expect that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, Director Srinivas Akkaraju acquired 588,235 shares of the business's stock in a transaction on Thursday, September 4th. The shares were bought at an average price of $25.50 per share, with a total value of $14,999,992.50. Following the transaction, the director directly owned 588,235 shares of the company's stock, valued at $14,999,992.50. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jon Congleton sold 15,100 shares of the company's stock in a transaction on Monday, October 13th. The shares were sold at an average price of $42.67, for a total value of $644,317.00. Following the completion of the transaction, the chief executive officer directly owned 831,305 shares in the company, valued at $35,471,784.35. This trade represents a 1.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 132,637 shares of company stock worth $3,175,946 in the last ninety days. Corporate insiders own 33.24% of the company's stock.

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.

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