Millennium Management LLC Has $13.56 Million Stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Millennium Management LLC increased its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 1,015.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,101,674 shares of the company's stock after buying an additional 1,002,941 shares during the period. Millennium Management LLC owned 2.21% of Mineralys Therapeutics worth $13,562,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC raised its position in shares of Mineralys Therapeutics by 55.4% in the fourth quarter. Jennison Associates LLC now owns 1,082,006 shares of the company's stock valued at $13,319,000 after buying an additional 385,726 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Mineralys Therapeutics by 43.0% in the fourth quarter. Wellington Management Group LLP now owns 91,529 shares of the company's stock valued at $1,127,000 after buying an additional 27,531 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at approximately $202,000. Proficio Capital Partners LLC acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at approximately $285,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Mineralys Therapeutics by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company's stock valued at $2,645,000 after buying an additional 1,307 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MLYS has been the subject of several recent analyst reports. The Goldman Sachs Group cut their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. HC Wainwright restated a "buy" rating and set a $42.00 target price on shares of Mineralys Therapeutics in a research note on Tuesday, May 13th. Guggenheim set a $48.00 target price on Mineralys Therapeutics and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Wall Street Zen upgraded Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Insider Transactions at Mineralys Therapeutics

In related news, Director Ra Capital Management, L.P. purchased 1,296,296 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $13.50 per share, for a total transaction of $17,499,996.00. Following the completion of the acquisition, the director now owns 4,280,051 shares of the company's stock, valued at approximately $57,780,688.50. This represents a 43.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the company's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $12.06, for a total transaction of $129,729.42. Following the transaction, the chief financial officer now owns 215,340 shares of the company's stock, valued at $2,597,000.40. This trade represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,579 shares of company stock worth $1,534,353. Corporate insiders own 25.56% of the company's stock.

Mineralys Therapeutics Trading Down 1.4%

NASDAQ MLYS traded down $0.23 on Tuesday, hitting $15.73. 946,814 shares of the company's stock were exchanged, compared to its average volume of 489,201. The stock has a 50-day moving average of $14.47 and a 200-day moving average of $12.55. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $18.38. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -4.32 and a beta of -0.30.

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

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.