Mineralys Therapeutics, Inc. $MLYS Stock Position Lifted by Swedbank AB

Key Points

• Swedbank AB increased its stake in Mineralys Therapeutics by 17.1%, acquiring 56,100 shares for a total of 383,800 shares, valued at approximately $5.19 million.
• Institutional investors now own 84.46% of Mineralys Therapeutics stock, indicating strong interest from large financial institutions.
• Mineralys Therapeutics received several positive upgrades from analysts, with target prices ranging from $26.00 to $52.00, suggesting a favorable market outlook.

Swedbank AB raised its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 17.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 383,800 shares of the company's stock after acquiring an additional 56,100 shares during the quarter. Swedbank AB owned 0.59% of Mineralys Therapeutics worth $5,193,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Mineralys Therapeutics by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company's stock worth $271,000 after buying an additional 702 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Mineralys Therapeutics by 4.6% during the 1st quarter. AlphaQuest LLC now owns 15,925 shares of the company's stock worth $253,000 after buying an additional 703 shares during the last quarter. SBI Securities Co. Ltd. raised its stake 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 worth $25,000 after buying an additional 1,190 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Mineralys Therapeutics by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 67,868 shares of the company's stock worth $1,078,000 after buying an additional 2,550 shares during the last quarter. Finally, CWM LLC raised its stake 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 buying an additional 3,105 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analyst Weigh In

MLYS has been the subject of several research reports. HC Wainwright reaffirmed a "buy" rating and set a $42.00 price target on shares of Mineralys Therapeutics in a research note on Monday, September 8th. Wells Fargo & Company lifted their price objective on Mineralys Therapeutics from $26.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Bank of America lifted their price objective on Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Jefferies Financial Group lifted their price objective on Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a "hold" rating in a research report on Wednesday, September 3rd. Finally, The Goldman Sachs Group lifted their price objective on Mineralys Therapeutics from $32.00 to $52.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.50.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock traded down $0.49 on Monday, hitting $38.78. 898,311 shares of the stock traded hands, compared to its average volume of 2,767,629. Mineralys Therapeutics, Inc. has a 1-year low of $8.24 and a 1-year high of $40.33. The company's fifty day moving average is $20.78 and its 200 day moving average is $16.73.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its quarterly 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. As a group, equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In related news, Director Ra Capital Management, L.P. acquired 1,176,470 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was purchased at an average cost of $25.50 per share, for a total transaction of $29,999,985.00. Following the purchase, the director directly owned 5,456,521 shares in the company, valued at $139,141,285.50. This represents a 27.49% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jon Congleton sold 15,884 shares of the company's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $14.51, for a total value of $230,476.84. Following the transaction, the chief executive officer owned 846,405 shares of the company's stock, valued at approximately $12,281,336.55. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,418 shares of company stock worth $2,185,474. 33.24% of the stock is owned by insiders.

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.