Sphera Funds Management LTD. Sells 81,800 Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Sphera Funds Management LTD. decreased its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 30.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 190,672 shares of the company's stock after selling 81,800 shares during the quarter. Sphera Funds Management LTD. owned about 0.38% of Mineralys Therapeutics worth $2,347,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MLYS. Millennium Management LLC grew its position in shares of Mineralys Therapeutics by 1,015.8% during the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company's stock worth $13,562,000 after buying an additional 1,002,941 shares during the period. Integral Health Asset Management LLC grew its position in Mineralys Therapeutics by 145.8% in 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 during the period. JPMorgan Chase & Co. grew its position in Mineralys Therapeutics by 2,251.5% in the 4th quarter. JPMorgan Chase & Co. now owns 503,590 shares of the company's stock valued at $6,199,000 after purchasing an additional 482,174 shares during the period. Jennison Associates LLC grew its position in Mineralys Therapeutics by 55.4% in the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company's stock valued at $13,319,000 after purchasing an additional 385,726 shares during the period. Finally, Candriam S.C.A. acquired a new stake in Mineralys Therapeutics in the 4th quarter valued at $3,758,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

MLYS has been the subject of several research reports. Guggenheim set a $48.00 price target on shares of Mineralys Therapeutics and gave the company a "buy" rating in a research report on Wednesday, May 14th. 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, The Goldman Sachs Group reduced their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, February 13th.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 15,319 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $12.19, for a total transaction of $186,738.61. Following the transaction, the chief executive officer now directly owns 862,289 shares in the company, valued at approximately $10,511,302.91. This trade represents a 1.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the firm'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 transaction, the chief financial officer now owns 215,340 shares in the company, valued at approximately $2,597,000.40. This trade represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,579 shares of company stock worth $1,534,353. Corporate insiders own 25.56% of the company's stock.

Mineralys Therapeutics Stock Down 0.2%

NASDAQ:MLYS traded down $0.03 during trading hours on Monday, hitting $15.32. 436,348 shares of the company traded hands, compared to its average volume of 469,298. The firm's 50-day simple moving average is $14.29 and its 200-day simple moving average is $12.46. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $18.38. The company has a market cap of $998.48 million, a PE ratio of -4.21 and a beta of -0.30.

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