Vanguard Group Inc. Has $114.48 Million Position in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Vanguard Group Inc. raised its stake in Mineralys Therapeutics by 29.8% in Q3 to 3,018,999 shares worth approximately $114.48 million, representing about 4.55% of the company.
• Insiders have been net sellers recently — executives disposed of 340,748 shares totaling about $11.7 million over the past 90 days, leaving insiders with roughly 25.56% ownership.
• Analysts rate MLYS a consensus “Moderate Buy” (six Buy, one Hold, one Sell) with an average price target of $47.43; the stock has a market cap around $2.28 billion and a 52‑week range of $9.69–$47.65.

Vanguard Group Inc. lifted its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 29.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,018,999 shares of the company's stock after acquiring an additional 692,550 shares during the period. Vanguard Group Inc. owned approximately 4.55% of Mineralys Therapeutics worth $114,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Simplify Asset Management Inc. bought a new stake in Mineralys Therapeutics in the third quarter worth approximately $8,294,000. Geode Capital Management LLC boosted its holdings in shares of Mineralys Therapeutics by 19.0% during the 2nd quarter. Geode Capital Management LLC now owns 954,560 shares of the company's stock worth $12,917,000 after buying an additional 152,560 shares in the last quarter. 22NW LP grew its position in shares of Mineralys Therapeutics by 21.4% during the 2nd quarter. 22NW LP now owns 560,042 shares of the company's stock worth $7,577,000 after buying an additional 98,698 shares during the period. Voya Investment Management LLC increased its stake in shares of Mineralys Therapeutics by 174.4% in the 3rd quarter. Voya Investment Management LLC now owns 138,526 shares of the company's stock valued at $5,253,000 after acquiring an additional 88,050 shares in the last quarter. Finally, Pale Fire Capital SE increased its stake in shares of Mineralys Therapeutics by 11.8% in the 2nd quarter. Pale Fire Capital SE now owns 446,626 shares of the company's stock valued at $6,043,000 after acquiring an additional 47,128 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jon Congleton sold 16,236 shares of the stock in a transaction on Monday, January 12th. The stock was sold at an average price of $32.62, for a total value of $529,618.32. Following the completion of the sale, the chief executive officer directly owned 639,151 shares of the company's stock, valued at approximately $20,849,105.62. This represents a 2.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Malcom Rodman sold 14,055 shares of the firm's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $27.44, for a total value of $385,669.20. Following the transaction, the insider owned 44,089 shares in the company, valued at approximately $1,209,802.16. This trade represents a 24.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 340,748 shares of company stock worth $11,697,169. 25.56% of the stock is owned by corporate insiders.

Mineralys Therapeutics Stock Performance

Shares of MLYS opened at $28.77 on Thursday. The firm has a market capitalization of $2.28 billion, a P/E ratio of -9.75 and a beta of 0.57. Mineralys Therapeutics, Inc. has a 52 week low of $9.69 and a 52 week high of $47.65. The stock has a 50 day moving average price of $31.75 and a two-hundred day moving average price of $34.91.

Analyst Upgrades and Downgrades

A number of research firms have commented on MLYS. HC Wainwright raised their price target on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a "buy" rating in a report on Wednesday, November 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Thursday, January 22nd. Stifel Nicolaus raised their target price on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, December 19th. Finally, Wells Fargo & Company upped their price target on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 11th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Mineralys Therapeutics has an average rating of "Moderate Buy" and an average target price of $47.43.

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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.

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