Wellington Management Group LLP Acquires 27,531 Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Wellington Management Group LLP grew its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 43.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 91,529 shares of the company's stock after buying an additional 27,531 shares during the period. Wellington Management Group LLP owned approximately 0.15% of Mineralys Therapeutics worth $1,127,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in Mineralys Therapeutics during the fourth quarter valued at approximately $48,000. ProShare Advisors LLC acquired a new stake in Mineralys Therapeutics in the 4th quarter valued at $128,000. Price T Rowe Associates Inc. MD acquired a new stake in Mineralys Therapeutics in the 4th quarter valued at $145,000. EntryPoint Capital LLC bought a new stake in Mineralys Therapeutics in the fourth quarter valued at $154,000. Finally, AlphaQuest LLC raised its stake in Mineralys Therapeutics by 2,637.8% during the fourth quarter. AlphaQuest LLC now owns 15,222 shares of the company's stock worth $187,000 after acquiring an additional 14,666 shares in the last quarter. Institutional investors own 84.46% of the company's stock.

Mineralys Therapeutics Stock Down 1.0%

MLYS stock traded down $0.16 during midday trading on Tuesday, reaching $16.03. The company's stock had a trading volume of 486,553 shares, compared to its average volume of 504,531. The business's 50-day simple moving average is $14.52 and its 200-day simple moving average is $12.78. The stock has a market cap of $1.04 billion, a PE ratio of -4.40 and a beta of -0.17. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $18.38.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.23. As a group, equities analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Adam Scott Levy sold 10,757 shares of the company's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $12.06, for a total value of $129,729.42. Following the completion of the sale, the chief financial officer now owns 215,340 shares in the company, valued at $2,597,000.40. This represents a 4.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David Malcom Rodman sold 11,366 shares of Mineralys Therapeutics stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $15.29, for a total value of $173,786.14. Following the transaction, the insider now owns 106,669 shares in the company, valued at approximately $1,630,969.01. This represents a 9.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,579 shares of company stock valued at $1,534,353 in the last ninety days. 25.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MLYS has been the subject of a number of research reports. HC Wainwright restated a "buy" rating and issued a $42.00 target price on shares of Mineralys Therapeutics in a research note on Tuesday, May 13th. Jefferies Financial Group assumed coverage on shares of Mineralys Therapeutics in a research report on Tuesday. They issued a "hold" rating for the company. The Goldman Sachs Group lowered their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Wall Street Zen raised Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Guggenheim set a $48.00 price target on Mineralys Therapeutics and gave the company a "buy" rating in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.00.

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.