Mineralys Therapeutics, Inc. $MLYS Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Mineralys Therapeutics by 11.1% in the fourth quarter, ending with 3.35 million shares worth about $121.7 million, or roughly 4.24% of the company.
• Insider activity was mixed: RA Capital Management bought 310,700 shares, while director Daphne Karydas sold 3,000 shares under a pre-arranged trading plan. Insiders sold a total of 160,120 shares in the last quarter.
• Analysts remain generally constructive, with seven Buy ratings and a consensus Moderate Buy rating; the average price target is $49.14. The stock recently traded at $29.26 after the company reported a smaller-than-expected quarterly loss.

Vanguard Group Inc. raised its position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 11.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,352,880 shares of the company's stock after buying an additional 333,881 shares during the quarter. Vanguard Group Inc. owned about 4.24% of Mineralys Therapeutics worth $121,676,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in shares of Mineralys Therapeutics by 198.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company's stock worth $40,000 after purchasing an additional 676 shares during the period. Russell Investments Group Ltd. raised its position in shares of Mineralys Therapeutics by 14,091.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company's stock worth $124,000 after purchasing an additional 3,241 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Mineralys Therapeutics by 50.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,846 shares of the company's stock worth $140,000 after purchasing an additional 1,283 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Mineralys Therapeutics by 29.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,775 shares of the company's stock worth $200,000 after purchasing an additional 3,390 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in shares of Mineralys Therapeutics during the 3rd quarter worth approximately $216,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Insider Transactions at Mineralys Therapeutics

In other news, Director Ra Capital Management, L.P. purchased 310,700 shares of the stock in a transaction dated Friday, March 27th. The shares were bought at an average cost of $23.67 per share, for a total transaction of $7,354,269.00. Following the transaction, the director owned 5,767,221 shares in the company, valued at $136,510,121.07. This trade represents a 5.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daphne Karydas sold 3,000 shares of Mineralys Therapeutics stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $25.00, for a total value of $75,000.00. Following the transaction, the director owned 6,200 shares in the company, valued at approximately $155,000. This trade represents a 32.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 160,120 shares of company stock valued at $4,270,828 in the last quarter. Company insiders own 18.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Jefferies Financial Group reissued a "hold" rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a report on Friday, March 13th. HC Wainwright set a $56.00 price objective on Mineralys Therapeutics and gave the stock a "buy" rating in a report on Tuesday, March 10th. TD Cowen assumed coverage on Mineralys Therapeutics in a report on Monday, April 27th. They issued a "buy" rating for the company. Wall Street Zen lowered Mineralys Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Bank of America increased their price objective on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, March 13th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Mineralys Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $49.14.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ MLYS opened at $29.26 on Wednesday. Mineralys Therapeutics, Inc. has a 1 year low of $12.59 and a 1 year high of $47.65. The firm has a market cap of $2.41 billion, a P/E ratio of -14.27 and a beta of 0.49. The stock has a fifty day moving average price of $27.17 and a two-hundred day moving average price of $32.85.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.04. On average, research analysts predict that Mineralys Therapeutics, Inc. will post -2.3 earnings per share 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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.

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