Jennison Associates LLC raised its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 55.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,082,006 shares of the company's stock after buying an additional 385,726 shares during the period. Jennison Associates LLC owned about 2.17% of Mineralys Therapeutics worth $13,319,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. Polar Asset Management Partners Inc. purchased a new position in shares of Mineralys Therapeutics during the 3rd quarter valued at about $490,000. Barclays PLC lifted its stake in shares of Mineralys Therapeutics by 281.8% during the 3rd quarter. Barclays PLC now owns 38,218 shares of the company's stock valued at $463,000 after buying an additional 28,208 shares in the last quarter. Wellington Management Group LLP bought a new position in Mineralys Therapeutics in the 3rd quarter worth $775,000. State Street Corp increased its stake in Mineralys Therapeutics by 4.0% in the 3rd quarter. State Street Corp now owns 483,766 shares of the company's stock worth $5,858,000 after buying an additional 18,627 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Mineralys Therapeutics by 17.7% in the third 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 in the last quarter. 84.46% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Separately, HC Wainwright reaffirmed a "buy" rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a report on Tuesday, November 12th.
Get Our Latest Analysis on MLYS
Mineralys Therapeutics Price Performance
Shares of NASDAQ:MLYS traded down $0.24 during trading hours on Friday, hitting $9.81. 338,332 shares of the company's stock traded hands, compared to its average volume of 245,550. The business has a fifty day moving average price of $11.39 and a 200-day moving average price of $12.10. Mineralys Therapeutics, Inc. has a 1 year low of $8.58 and a 1 year high of $16.91. The firm has a market capitalization of $488.24 million, a P/E ratio of -3.00 and a beta of 1.44.
Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its earnings results on Monday, November 11th. The company reported ($1.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.30). During the same period last year, the firm posted ($0.57) earnings per share. As a group, equities analysts predict that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current year.
Insider Activity at Mineralys Therapeutics
In other news, CEO Jon Congleton sold 18,333 shares of the 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 sale, the chief executive officer now owns 877,608 shares in the company, valued at $7,951,128.48. This represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the business'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 completion of the transaction, the chief financial officer now directly owns 226,097 shares of the company's stock, valued at approximately $2,057,482.70. This trade represents 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.
About Mineralys Therapeutics
(
Free Report)
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.
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