Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,318 shares of the company’s stock after purchasing an additional 1,711 shares during the period. Bank of New York Mellon Corp owned about 0.13% of Mineralys Therapeutics worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Franklin Resources Inc. increased its position in shares of Mineralys Therapeutics by 17.7% in the third quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock valued at $21,138,000 after buying an additional 262,922 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Mineralys Therapeutics by 55.4% during the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock valued at $13,319,000 after buying an additional 385,726 shares in the last quarter. Caligan Partners LP grew its stake in Mineralys Therapeutics by 31.6% in the 3rd quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock valued at $11,882,000 after acquiring an additional 235,397 shares during the period. Geode Capital Management LLC increased its holdings in Mineralys Therapeutics by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 620,853 shares of the company’s stock worth $7,520,000 after acquiring an additional 38,527 shares in the last quarter. Finally, State Street Corp raised its position in Mineralys Therapeutics by 4.0% during the third quarter. State Street Corp now owns 483,766 shares of the company’s stock worth $5,858,000 after acquiring an additional 18,627 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MLYS. Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a report on Monday, March 10th. Finally, The Goldman Sachs Group cut their price objective 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.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock opened at $16.78 on Wednesday. Mineralys Therapeutics, Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $18.38. The stock’s fifty day moving average is $11.15 and its two-hundred day moving average is $12.13. The firm has a market capitalization of $1.05 billion, a P/E ratio of -4.61 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.02. On average, equities analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. acquired 1,296,296 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $13.50 per share, with a total value of $17,499,996.00. Following the completion of the acquisition, the director now owns 4,280,051 shares of the company’s stock, valued at $57,780,688.50. This trade represents a 43.45 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $13.50 per share, with a total value of $8,100,000.00. Following the completion of the transaction, the insider now owns 5,674,916 shares of the company’s stock, valued at $76,611,366. The trade was a 11.82 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 33.24% of the company’s stock.

About Mineralys Therapeutics

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.