Virtu Financial LLC Acquires Shares of 25,203 Mineralys Therapeutics, Inc. $MLYS

Key Points

• Virtu Financial LLC has invested approximately $400,000 in Mineralys Therapeutics, Inc. by purchasing 25,203 shares during the first quarter of the year.
• Mineralys Therapeutics reported a quarterly earnings surprise, with a loss of $0.66 per share, which was better than analyst expectations of a loss of $0.78.
• Institutional investors own 84.46% of Mineralys Therapeutics shares, indicating strong interest in the company's stock by hedge funds and other large investors.

Virtu Financial LLC purchased a new stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 25,203 shares of the company's stock, valued at approximately $400,000.

Several other hedge funds also recently added to or reduced their stakes in MLYS. Vanguard Group Inc. grew its stake in Mineralys Therapeutics by 42.1% in the 1st quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company's stock worth $32,324,000 after acquiring an additional 603,464 shares in the last quarter. Jennison Associates LLC lifted its position in Mineralys Therapeutics by 82.9% during the first quarter. Jennison Associates LLC now owns 1,979,033 shares of the company's stock valued at $31,427,000 after acquiring an additional 897,027 shares during the last quarter. Millennium Management LLC lifted its position in Mineralys Therapeutics by 1,015.8% during the fourth quarter. Millennium Management LLC now owns 1,101,674 shares of the company's stock valued at $13,562,000 after acquiring an additional 1,002,941 shares during the last quarter. Caligan Partners LP lifted its position in Mineralys Therapeutics by 3.1% during the fourth quarter. Caligan Partners LP now owns 1,011,155 shares of the company's stock valued at $12,447,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Integral Health Asset Management LLC increased its stake in Mineralys Therapeutics by 145.8% during the 4th quarter. Integral Health Asset Management LLC now owns 875,000 shares of the company's stock valued at $10,771,000 after purchasing an additional 519,000 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Insider Transactions at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 59,925 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Malcom Rodman sold 11,365 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $12.93, for a total transaction of $146,949.45. Following the sale, the insider owned 92,891 shares of the company's stock, valued at $1,201,080.63. This represents a 10.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,051 shares of company stock worth $1,776,262. 25.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MLYS has been the topic of a number of research reports. Guggenheim set a $48.00 price objective on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Jefferies Financial Group initiated coverage on shares of Mineralys Therapeutics in a report on Tuesday, June 10th. They set a "hold" rating and a $15.00 price objective on the stock. Wall Street Zen downgraded shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Finally, HC Wainwright reissued a "buy" rating and issued a $42.00 price target on shares of Mineralys Therapeutics in a research note on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Mineralys Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $32.25.

Mineralys Therapeutics Price Performance

Shares of MLYS stock traded down $0.7250 during trading on Tuesday, reaching $14.6150. The company's stock had a trading volume of 455,468 shares, compared to its average volume of 875,189. Mineralys Therapeutics, Inc. has a 1-year low of $8.24 and a 1-year high of $18.38. The stock's 50-day moving average price is $14.03 and its 200 day moving average price is $13.61. The company has a market capitalization of $968.90 million, a price-to-earnings ratio of -4.11 and a beta of -0.29.

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

About Mineralys Therapeutics

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.