Millennium Management LLC Buys 1,002,941 Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Millennium Management LLC lifted its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 1,015.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,101,674 shares of the company's stock after acquiring 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 SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. raised its position in shares of Mineralys Therapeutics by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock worth $130,000 after acquiring an additional 989 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Mineralys Therapeutics by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company's stock worth $2,645,000 after acquiring an additional 1,307 shares in the last quarter. Northern Trust Corp raised its position in shares of Mineralys Therapeutics by 0.7% in the 4th quarter. Northern Trust Corp now owns 246,113 shares of the company's stock worth $3,030,000 after acquiring an additional 1,688 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Mineralys Therapeutics by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company's stock worth $804,000 after acquiring an additional 1,711 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Mineralys Therapeutics by 19.1% in the 4th quarter. Wells Fargo & Company MN now owns 23,714 shares of the company's stock worth $292,000 after buying an additional 3,802 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Insider Buying and Selling at Mineralys Therapeutics

In other news, major shareholder Samsara Biocapital Gp, Llc purchased 600,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $13.50 per share, for a total transaction of $8,100,000.00. Following the purchase, the insider now directly owns 5,674,916 shares in the company, valued at approximately $76,611,366. This represents a 11.82% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $12.06, for a total value of $129,729.42. Following the completion of the transaction, the chief financial officer now owns 215,340 shares in the company, valued at approximately $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. In the last three months, insiders have sold 104,579 shares of company stock worth $1,534,353. Insiders own 25.56% of the company's stock.

Wall Street Analyst Weigh In

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

Mineralys Therapeutics Trading Up 0.4%

MLYS traded up $0.07 during trading on Thursday, hitting $15.91. 63,271 shares of the company's stock traded hands, compared to its average volume of 488,563. The company's 50 day simple moving average is $14.43 and its two-hundred day simple moving average is $12.60. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $18.38. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -4.37 and a beta of -0.30.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.79) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.23. On average, equities analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Mineralys Therapeutics 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.