Parkman Healthcare Partners LLC Makes New Investment in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Parkman Healthcare Partners LLC acquired approximately 293,928 shares of Mineralys Therapeutics, Inc. for around $4.67 million, representing a 0.45% ownership stake in the company.
• Mineralys Therapeutics, with a current market cap of $2.31 billion, reported a quarterly EPS of ($0.66), exceeding analyst expectations.
• Several brokerages have upgraded their ratings for Mineralys Therapeutics, with price targets ranging from $26.00 to $48.00 indicating a positive outlook for the stock.

Parkman Healthcare Partners LLC purchased a new stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 293,928 shares of the company's stock, valued at approximately $4,668,000. Parkman Healthcare Partners LLC owned about 0.45% of Mineralys Therapeutics at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. increased its position in shares of Mineralys Therapeutics by 297.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company's stock valued at $25,000 after purchasing an additional 1,190 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Mineralys Therapeutics during the 4th quarter worth approximately $48,000. Quarry LP purchased a new position in shares of Mineralys Therapeutics during the 1st quarter worth approximately $111,000. ProShare Advisors LLC purchased a new position in shares of Mineralys Therapeutics during the 4th quarter worth approximately $128,000. Finally, CWM LLC grew its holdings in shares of Mineralys Therapeutics by 59.3% during the 1st quarter. CWM LLC now owns 8,342 shares of the company's stock worth $132,000 after acquiring an additional 3,105 shares during the period. Institutional investors own 84.46% of the company's stock.

Mineralys Therapeutics Price Performance

MLYS traded up $2.57 during trading on Tuesday, reaching $38.50. 1,980,969 shares of the company's stock were exchanged, compared to its average volume of 2,452,919. The stock has a market capitalization of $2.55 billion, a P/E ratio of -10.81 and a beta of -0.29. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $38.54. The company's fifty day simple moving average is $16.53 and its 200-day simple moving average is $14.92.

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

Insider Activity

In related news, insider David Malcom Rodman sold 11,365 shares of Mineralys Therapeutics stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $12.93, for a total value of $146,949.45. Following the completion of the transaction, the insider owned 92,891 shares in the company, valued at approximately $1,201,080.63. The trade was a 10.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ra Capital Management, L.P. bought 1,176,470 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were purchased at an average price of $25.50 per share, for a total transaction of $29,999,985.00. Following the completion of the purchase, the director directly owned 5,456,521 shares of the company's stock, valued at approximately $139,141,285.50. This trade represents a 27.49% increase in their position. The disclosure for this purchase can be found here. Insiders sold 123,051 shares of company stock valued at $1,776,262 in the last quarter. Insiders own 33.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen raised Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. The Goldman Sachs Group boosted their price target on Mineralys Therapeutics from $32.00 to $52.00 and gave the stock a "buy" rating in a research note on Tuesday. HC Wainwright reiterated a "buy" rating and set a $42.00 target price on shares of Mineralys Therapeutics in a research note on Monday. Bank of America boosted their price objective on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Finally, Guggenheim set a $48.00 price target on shares of Mineralys Therapeutics and gave the company a "buy" rating in a report on Wednesday, May 14th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.20.

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.