JPMorgan Chase & Co. Has $6.20 Million Holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

JPMorgan Chase & Co. increased its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 2,251.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 503,590 shares of the company's stock after purchasing an additional 482,174 shares during the period. JPMorgan Chase & Co. owned approximately 1.01% of Mineralys Therapeutics worth $6,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in Mineralys Therapeutics by 55.4% in the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company's stock worth $13,319,000 after purchasing an additional 385,726 shares during the period. Barclays PLC boosted its stake in shares of Mineralys Therapeutics by 281.8% during the 3rd quarter. Barclays PLC now owns 38,218 shares of the company's stock worth $463,000 after buying an additional 28,208 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Mineralys Therapeutics during the 3rd quarter worth about $775,000. Proficio Capital Partners LLC acquired a new position in shares of Mineralys Therapeutics during the 4th quarter worth about $285,000. Finally, State Street Corp boosted its stake in shares of Mineralys Therapeutics by 4.0% during the 3rd quarter. State Street Corp now owns 483,766 shares of the company's stock worth $5,858,000 after buying an additional 18,627 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MLYS has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. HC Wainwright increased their price objective on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, April 2nd. Finally, Guggenheim restated a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th.

Insider Activity at Mineralys Therapeutics

In other news, major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $13.50 per share, with a total value of $8,100,000.00. Following the acquisition, the insider now directly owns 5,674,916 shares in the company, valued at $76,611,366. This represents a 11.82 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David Malcom Rodman sold 55,771 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $15.76, for a total value of $878,950.96. Following the completion of the transaction, the insider now directly owns 116,704 shares in the company, valued at approximately $1,839,255.04. This represents a 32.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,213 shares of company stock worth $1,360,567. Company insiders own 33.24% of the company's stock.

Mineralys Therapeutics Stock Performance

MLYS traded up $0.58 during trading hours on Wednesday, reaching $13.79. The company's stock had a trading volume of 47,645 shares, compared to its average volume of 419,091. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $18.38. The company's 50-day moving average is $12.70 and its 200-day moving average is $12.35. The firm has a market cap of $894.64 million, a PE ratio of -3.79 and a beta of -0.39.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, beating analysts' consensus estimates of ($1.00) by $0.02. Equities analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

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.