AlphaQuest LLC Raises Stock Position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

AlphaQuest LLC lifted its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 2,637.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,222 shares of the company’s stock after buying an additional 14,666 shares during the period. AlphaQuest LLC’s holdings in Mineralys Therapeutics were worth $187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. grew its position in shares of Mineralys Therapeutics by 17.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock worth $21,138,000 after buying an additional 262,922 shares during the last quarter. Jennison Associates LLC grew its position in Mineralys Therapeutics by 55.4% during the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock worth $13,319,000 after purchasing an additional 385,726 shares during the last quarter. Caligan Partners LP grew its position in Mineralys Therapeutics by 31.6% during the 3rd quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock worth $11,882,000 after purchasing an additional 235,397 shares during the last quarter. Geode Capital Management LLC grew its position in Mineralys Therapeutics by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 620,853 shares of the company’s stock worth $7,520,000 after purchasing an additional 38,527 shares during the last quarter. Finally, State Street Corp grew its position in Mineralys Therapeutics by 4.0% during 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. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Price Performance

MLYS stock opened at $14.25 on Monday. The firm’s fifty day simple moving average is $10.42 and its 200-day simple moving average is $11.93. The company has a market capitalization of $710.16 million, a P/E ratio of -3.91 and a beta of 1.50. Mineralys Therapeutics, Inc. has a 12 month low of $8.24 and a 12 month high of $18.29.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.02. As a group, sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Insider Activity at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 18,333 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.06, for a total value of $166,096.98. Following the completion of the transaction, the chief executive officer now directly owns 877,608 shares in the company, valued at $7,951,128.48. The trade was a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $97,888.70. Following the completion of 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 disclosure for this sale can be found here. Company insiders own 33.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MLYS. The Goldman Sachs Group dropped their target price on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Guggenheim reissued a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Mineralys Therapeutics in a research report on Monday, March 10th.

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.