Orbimed Advisors LLC Has $19.84 Million Position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Orbimed Advisors LLC reduced its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 19.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,611,637 shares of the company's stock after selling 391,302 shares during the quarter. Orbimed Advisors LLC owned approximately 3.24% of Mineralys Therapeutics worth $19,839,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in MLYS. BNP Paribas Financial Markets acquired a new stake in shares of Mineralys Therapeutics during the fourth quarter worth approximately $48,000. China Universal Asset Management Co. Ltd. raised its position in Mineralys Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock valued at $130,000 after acquiring an additional 989 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in Mineralys Therapeutics during the fourth quarter valued at approximately $145,000. EntryPoint Capital LLC bought a new position in Mineralys Therapeutics during the fourth quarter valued at approximately $154,000. Finally, AlphaQuest LLC raised its position in Mineralys Therapeutics by 2,637.8% during the fourth quarter. AlphaQuest LLC now owns 15,222 shares of the company's stock valued at $187,000 after acquiring an additional 14,666 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 11,366 shares of Mineralys Therapeutics stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $15.29, for a total transaction of $173,786.14. Following the sale, the insider now owns 106,669 shares in the company, valued at $1,630,969.01. The trade was a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction on Friday, April 11th. The stock was sold at an average price of $12.06, for a total transaction of $129,729.42. Following 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,579 shares of company stock valued at $1,534,353. 25.56% of the stock is owned by company insiders.

Mineralys Therapeutics Stock Down 0.1%

Shares of NASDAQ:MLYS traded down $0.01 during trading on Friday, reaching $15.35. The stock had a trading volume of 779,188 shares, compared to its average volume of 469,430. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $18.38. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -4.22 and a beta of -0.30. The stock has a fifty day simple moving average of $14.29 and a two-hundred day simple moving average of $12.47.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.02) by $0.23. On average, analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. HC Wainwright reissued a "buy" rating and issued a $42.00 price target on shares of Mineralys Therapeutics in a research report on Tuesday, May 13th. Finally, Guggenheim reissued a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th.

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.