Strs Ohio Takes Position in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Strs Ohio has acquired a new position in Mineralys Therapeutics, Inc. (NASDAQ: MLYS), purchasing 22,600 shares valued at approximately $359,000 during the first quarter.
• Mineralys stock has seen a price fluctuation, opening at $37.65, with a 52-week range from $8.24 to $40.33, and currently has a market cap of $2.50 billion.
• Wall Street analysts have given a consensus rating of "Moderate Buy" for Mineralys Therapeutics, with an average price target of $43.50 following several upgrades from firms like Bank of America and Wells Fargo.

Strs Ohio acquired a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,600 shares of the company's stock, valued at approximately $359,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLYS. Woodline Partners LP acquired a new stake in Mineralys Therapeutics during the 1st quarter valued at approximately $757,000. Goldman Sachs Group Inc. increased its position in shares of Mineralys Therapeutics by 166.6% during the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company's stock worth $4,739,000 after buying an additional 186,480 shares during the period. Parkman Healthcare Partners LLC acquired a new stake in shares of Mineralys Therapeutics during the first quarter worth $4,668,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Mineralys Therapeutics by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company's stock valued at $271,000 after buying an additional 702 shares during the period. Finally, Cinctive Capital Management LP bought a new stake in Mineralys Therapeutics during the first quarter valued at $226,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Mineralys Therapeutics Stock Down 2.9%

Mineralys Therapeutics stock opened at $37.65 on Wednesday. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $40.33. The company's 50 day moving average price is $21.24 and its two-hundred day moving average price is $16.88. The stock has a market cap of $2.50 billion, a P/E ratio of -10.58 and a beta of -0.29.

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

Wall Street Analyst Weigh In

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

Insider Transactions at Mineralys Therapeutics

In related news, insider David Malcom Rodman sold 11,367 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $36.00, for a total transaction of $409,212.00. Following the completion of the transaction, the insider owned 81,524 shares in the company, valued at approximately $2,934,864. This represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Srinivas Akkaraju acquired 588,235 shares of the firm's stock in a transaction that occurred 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 acquisition, 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 disclosure for this purchase can be found here. Over the last three months, insiders have sold 134,418 shares of company stock worth $2,185,474. Company insiders own 33.24% of the company's stock.

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.

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