Bank of New York Mellon Corp Boosts Stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Bank of New York Mellon Corp lifted its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 65,318 shares of the company’s stock after acquiring an additional 1,711 shares during the quarter. Bank of New York Mellon Corp’s holdings in Mineralys Therapeutics were worth $804,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. 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 buying an additional 989 shares during the period. PDT Partners LLC acquired a new stake in shares of Mineralys Therapeutics during the third quarter valued at about $148,000. Martingale Asset Management L P purchased a new stake in shares of Mineralys Therapeutics in the 3rd quarter valued at approximately $181,000. SG Americas Securities LLC lifted its holdings in shares of Mineralys Therapeutics by 119.0% in the 4th quarter. SG Americas Securities LLC now owns 19,961 shares of the company’s stock worth $246,000 after acquiring an additional 10,845 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in shares of Mineralys Therapeutics by 30.6% during the 3rd quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock worth $331,000 after purchasing an additional 6,408 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MLYS shares. 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 price objective on shares of Mineralys Therapeutics in a report on Monday, March 10th. Finally, The Goldman Sachs Group decreased their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock opened at $16.78 on Wednesday. The stock has a market capitalization of $1.05 billion, a P/E ratio of -4.61 and a beta of 1.50. Mineralys Therapeutics, Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $18.38. The company has a 50 day moving average price of $11.15 and a 200 day moving average price of $12.13.

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, topping analysts’ consensus estimates of ($1.00) by $0.02. On average, research analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jon Congleton sold 18,333 shares of Mineralys Therapeutics stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.06, for a total transaction of $166,096.98. Following the completion of the sale, the chief executive officer now directly owns 877,608 shares of the company’s stock, valued at approximately $7,951,128.48. The trade was a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 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. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. 33.24% of the stock is owned by company insiders.

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.