Proficio Capital Partners LLC Invests $285,000 in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Proficio Capital Partners LLC purchased a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,192 shares of the company’s stock, valued at approximately $285,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MLYS. China Universal Asset Management Co. Ltd. raised its holdings in Mineralys Therapeutics by 10.3% in the 4th 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 during the last quarter. PDT Partners LLC acquired a new stake in shares of Mineralys Therapeutics in the third quarter valued at approximately $148,000. Martingale Asset Management L P purchased a new position in Mineralys Therapeutics during the third quarter worth approximately $181,000. SG Americas Securities LLC grew its holdings in Mineralys Therapeutics by 119.0% in the 4th quarter. SG Americas Securities LLC now owns 19,961 shares of the company’s stock valued at $246,000 after buying an additional 10,845 shares in the last quarter. Finally, Verition Fund Management LLC grew its holdings in Mineralys Therapeutics by 30.6% in the 3rd quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock valued at $331,000 after buying an additional 6,408 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MLYS. Guggenheim reissued 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 target price on shares of Mineralys Therapeutics in a report on Monday, March 10th. Finally, The Goldman Sachs Group cut their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 13th.

Insider Transactions at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 18,333 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.06, for a total transaction of $166,096.98. Following the transaction, the chief executive officer now owns 877,608 shares of the company’s stock, valued at approximately $7,951,128.48. This represents a 2.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $97,888.70. Following the transaction, the chief financial officer now owns 226,097 shares of the company’s stock, valued at $2,057,482.70. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 33.24% of the company’s stock.

Mineralys Therapeutics Stock Down 3.8 %

Shares of Mineralys Therapeutics stock opened at $16.15 on Thursday. The firm has a market cap of $1.01 billion, a PE ratio of -4.44 and a beta of 1.50. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $18.38. The business’s fifty day simple moving average is $11.27 and its 200-day simple moving average is $12.16.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. As a group, equities analysts expect that Mineralys Therapeutics, Inc. will post -4.23 earnings per share 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.