Prudential Financial Inc. Acquires 58,000 Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Prudential Financial Inc. grew its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 85.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,650 shares of the company’s stock after buying an additional 58,000 shares during the period. Prudential Financial Inc. owned 0.25% of Mineralys Therapeutics worth $1,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of MLYS. China Universal Asset Management Co. Ltd. increased 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. Charles Schwab Investment Management Inc. grew its position in shares of Mineralys Therapeutics by 0.6% during 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 in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Mineralys Therapeutics by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company’s stock worth $804,000 after purchasing an additional 1,711 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of Mineralys Therapeutics by 30.6% in the third quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock worth $331,000 after buying an additional 6,408 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Mineralys Therapeutics by 119.0% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MLYS. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th. HC Wainwright upped their price target on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group dropped their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, February 13th.

Insider Activity at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.10, for a total transaction of $97,888.70. Following the transaction, the chief financial officer now owns 226,097 shares of the company’s stock, valued at approximately $2,057,482.70. This represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jon Congleton sold 18,333 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the completion of the sale, the chief executive officer now owns 877,608 shares in the company, valued at approximately $7,951,128.48. The trade was a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,861 shares of company stock worth $1,142,937. Insiders own 33.24% of the company’s stock.

Mineralys Therapeutics Stock Performance

Shares of Mineralys Therapeutics stock opened at $12.40 on Friday. The stock has a 50 day moving average price of $11.90 and a 200-day moving average price of $12.28. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $18.38. The stock has a market cap of $778.53 million, a price-to-earnings ratio of -3.41 and a beta of -0.39.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data 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. Sell-side analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

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.