Candriam S.C.A. Buys New Shares in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Candriam S.C.A. acquired a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 305,272 shares of the company's stock, valued at approximately $3,758,000. Candriam S.C.A. owned about 0.61% of Mineralys Therapeutics at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its position in Mineralys Therapeutics by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock worth $130,000 after acquiring an additional 989 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Mineralys Therapeutics by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company's stock worth $2,645,000 after purchasing an additional 1,307 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Mineralys Therapeutics by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company's stock valued at $804,000 after buying an additional 1,711 shares during the last quarter. Verition Fund Management LLC increased its position in Mineralys Therapeutics by 30.6% in the 3rd 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 during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Mineralys Therapeutics by 119.0% during the fourth quarter. SG Americas Securities LLC now owns 19,961 shares of the company's stock worth $246,000 after buying an additional 10,845 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of brokerages recently issued reports on MLYS. HC Wainwright reaffirmed a "buy" rating and set a $30.00 target price on shares of Mineralys Therapeutics in a research report on Monday. The Goldman Sachs Group reduced their price objective on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Guggenheim restated a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th.

Mineralys Therapeutics Stock Performance

Mineralys Therapeutics stock traded down $1.19 on Wednesday, reaching $13.11. The company's stock had a trading volume of 5,515,934 shares, compared to its average volume of 788,320. The business's fifty day moving average price is $10.35 and its 200 day moving average price is $11.90. The company has a market cap of $653.35 million, a price-to-earnings ratio of -3.60 and a beta of 1.50. Mineralys Therapeutics, Inc. has a twelve month low of $8.24 and a twelve month high of $18.29.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its earnings results 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. As a group, equities analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 10,757 shares of the 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 sale, the chief financial officer now owns 226,097 shares of the company's stock, valued at $2,057,482.70. This represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jon Congleton sold 18,333 shares of Mineralys Therapeutics stock in a transaction dated 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 sale, the chief executive officer now directly owns 877,608 shares in the company, valued at $7,951,128.48. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 33.24% of the company's stock.

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.