Trexquant Investment LP Acquires Shares of 126,535 Mineralys Therapeutics, Inc. $MLYS

Key Points

• Trexquant Investment LP acquired a new stake in Mineralys Therapeutics, purchasing 126,535 shares valued at approximately $2,009,000, representing about 0.20% of the company.
• Bank of America raised its price target for Mineralys Therapeutics from $38.00 to $43.00, maintaining a "buy" rating, while other analysts also showed positive ratings, contributing to a consensus rating of "Moderate Buy".
• Mineralys Therapeutics' stock price recently increased by 13.2%, with a market cap of $2.20 billion and a current price of $33.12, reflecting significant investor interest.

Trexquant Investment LP bought a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 126,535 shares of the company's stock, valued at approximately $2,009,000. Trexquant Investment LP owned 0.20% of Mineralys Therapeutics at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MLYS. Wellington Management Group LLP grew its position in Mineralys Therapeutics by 32.8% during the 1st quarter. Wellington Management Group LLP now owns 121,557 shares of the company's stock worth $1,930,000 after purchasing an additional 30,028 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Mineralys Therapeutics during the fourth quarter worth about $202,000. GAMMA Investing LLC grew its holdings in shares of Mineralys Therapeutics by 9,602.2% during the first quarter. GAMMA Investing LLC now owns 8,829 shares of the company's stock worth $140,000 after buying an additional 8,738 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Mineralys Therapeutics in the 4th quarter valued at about $48,000. Finally, ProShare Advisors LLC purchased a new stake in Mineralys Therapeutics during the 4th quarter valued at approximately $128,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS traded up $1.68 during trading hours on Friday, hitting $34.80. 3,741,957 shares of the company's stock were exchanged, compared to its average volume of 2,228,714. The business's 50 day moving average is $15.59 and its 200-day moving average is $14.57. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $35.09. The firm has a market capitalization of $2.31 billion, a P/E ratio of -9.78 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 for the quarter, topping the consensus estimate of ($0.78) by $0.12. As a group, equities research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 15,884 shares of the business's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $14.51, for a total transaction of $230,476.84. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Malcom Rodman sold 11,365 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was 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. This trade represents a 10.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,051 shares of company stock valued at $1,776,262. Company insiders own 25.56% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MLYS shares. Guggenheim set a $48.00 target price on Mineralys Therapeutics and gave the company a "buy" rating in a report on Wednesday, May 14th. Wall Street Zen raised Mineralys Therapeutics from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Bank of America upped their target price on Mineralys Therapeutics from $38.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, August 28th. HC Wainwright reissued a "buy" rating and issued a $42.00 target price on shares of Mineralys Therapeutics in a report on Wednesday, August 13th. Finally, Jefferies Financial Group upped their price objective on Mineralys Therapeutics from $15.00 to $26.00 and gave the company a "hold" rating in a research report on Wednesday. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.60.

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.