327,700 Shares in Mineralys Therapeutics, Inc. $MLYS Acquired by Swedbank AB

Key Points

• Swedbank AB has acquired a new position in Mineralys Therapeutics, buying 327,700 shares valued at approximately $5.20 million, representing 0.50% of the company's stock.
• Mineralys Therapeutics reported a quarterly EPS of ($0.66), surpassing the consensus estimate of ($0.78), while analysts predict an average EPS of -4.23 for the current fiscal year.
• Multiple institutional investors, including RA Capital Management and Vanguard Group, have significantly increased their stakes in Mineralys Therapeutics, indicating strong institutional interest in the company.

Swedbank AB acquired a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 327,700 shares of the company's stock, valued at approximately $5,204,000. Swedbank AB owned approximately 0.50% of Mineralys Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. RA Capital Management L.P. lifted its position in Mineralys Therapeutics by 26.7% during the first quarter. RA Capital Management L.P. now owns 6,147,280 shares of the company's stock worth $97,619,000 after acquiring an additional 1,296,296 shares during the last quarter. SR One Capital Management LP raised its position in Mineralys Therapeutics by 55.1% during the first quarter. SR One Capital Management LP now owns 3,127,933 shares of the company's stock valued at $49,672,000 after purchasing an additional 1,111,111 shares in the last quarter. Millennium Management LLC grew its stake in shares of Mineralys Therapeutics by 1,015.8% during the fourth quarter. Millennium Management LLC now owns 1,101,674 shares of the company's stock worth $13,562,000 after buying an additional 1,002,941 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Mineralys Therapeutics by 82.9% during the first quarter. Jennison Associates LLC now owns 1,979,033 shares of the company's stock worth $31,427,000 after buying an additional 897,027 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Mineralys Therapeutics by 42.1% in the first quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company's stock worth $32,324,000 after purchasing an additional 603,464 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, Director Ra Capital Management, L.P. purchased 1,176,470 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 $29,999,985.00. Following the completion of the purchase, the director directly owned 5,456,521 shares in the company, valued at $139,141,285.50. This trade represents a 27.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Adam Scott Levy sold 59,925 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $14.76, for a total transaction of $884,493.00. Following the sale, the chief financial officer directly owned 132,934 shares in the company, valued at approximately $1,962,105.84. The trade was a 31.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,418 shares of company stock valued at $2,185,474. 25.56% of the stock is owned by corporate insiders.

Mineralys Therapeutics Stock Performance

Shares of MLYS traded down $0.60 during mid-day trading on Friday, hitting $39.27. 2,477,435 shares of the company traded hands, compared to its average volume of 2,696,109. The stock has a 50-day moving average price of $20.30 and a two-hundred day moving average price of $16.45. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $40.33. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -11.03 and a beta of -0.29.

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