Wellington Management Group LLP Has $1.13 Million Stock Position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Wellington Management Group LLP grew its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 43.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 91,529 shares of the company's stock after purchasing an additional 27,531 shares during the period. Wellington Management Group LLP owned 0.18% of Mineralys Therapeutics worth $1,127,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MLYS. Jennison Associates LLC increased its position in Mineralys Therapeutics by 55.4% in the fourth quarter. Jennison Associates LLC now owns 1,082,006 shares of the company's stock worth $13,319,000 after buying an additional 385,726 shares during the period. Barclays PLC lifted its position in Mineralys Therapeutics by 281.8% in the 3rd quarter. Barclays PLC now owns 38,218 shares of the company's stock valued at $463,000 after purchasing an additional 28,208 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Mineralys Therapeutics during the 4th quarter valued at about $285,000. State Street Corp grew its position in Mineralys Therapeutics by 4.0% in the 3rd quarter. State Street Corp now owns 483,766 shares of the company's stock worth $5,858,000 after purchasing an additional 18,627 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Mineralys Therapeutics by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company's stock valued at $2,645,000 after purchasing an additional 1,307 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 10,757 shares of the business's 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 directly owns 215,340 shares of the company's stock, valued at $2,597,000.40. The trade was a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jon Congleton sold 15,319 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $12.19, for a total value of $186,738.61. Following the completion of the transaction, the chief executive officer now owns 862,289 shares of the company's stock, valued at $10,511,302.91. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,213 shares of company stock valued at $1,360,567 over the last ninety days. Insiders own 33.24% of the company's stock.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock traded down $0.15 during mid-day trading on Friday, hitting $13.35. 382,306 shares of the stock traded hands, compared to its average volume of 416,447. The company's 50-day simple moving average is $12.59 and its 200-day simple moving average is $12.36. Mineralys Therapeutics, Inc. has a twelve month low of $8.24 and a twelve month high of $18.38. The firm has a market cap of $866.09 million, a price-to-earnings ratio of -3.67 and a beta of -0.39.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued 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. Analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MLYS. HC Wainwright increased their price objective on Mineralys Therapeutics from $30.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, April 2nd. Guggenheim reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a report on Monday, February 24th. Finally, The Goldman Sachs Group decreased their target price 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.

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.